Barnes & Noble NYSE:BKS up on Pearson NYSE:PSO investment
Barnes & Noble NYSE:BKS up on Pearson NYSE:PSO investment
Barnes & Noble +0.79 is up 5.1% after Pearson confirmed plans to invest $89.5-M in NOOK Media, LLC, which is a new company made up of Barnes & Noble’s digital businesses.
The NOOK e-reader, tablets, the NOOK digital store, as well as the company’s 674 college bookstores across the country will all be included under the umbrella of NOOK Media, LLC.
Barnes & Noble is seeing notable gains, but it should be noted that in addition to announcing the Pearson investment, BKS said today that Holiday sales results will miss expectations, and the NOOK business will not meet the company’s earlier projections.
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