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News Breaks
June 25, 2014
11:28 EDTBKS, AMZNBarnes & Noble soars after agreeing to split retail, Nook businesses
Shares of bookseller Barnes & Noble (BKS) surged after the company reported better than anticipated fourth quarter revenue and announced that its board authorized management to separate its Retail and Nook Media divisions. WHAT'S NEW: The book retailer announced that its board authorized company management to take steps to separate the Barnes & Noble Retail and NOOK Media businesses into two separate public companies and it expects to complete the separation by the end of Q1 of next calendar year. In terms of the separation of the divisions, the company said, "We have determined that these businesses will have the best chance of optimizing shareholder value if they are capitalized and operated separately. We fully expect that our Retail and NOOK Media businesses will continue to have long-term, successful business relationships with each other after separation.” Barnes & Noble experienced a loss per share of (72c) in Q4, which was a steeper loss than analyst's expectations for (49c) per share. The company's Q4 revenue of $1.32B beat analyst's consensus forecast of $1.19B. The bookseller reported that its retail same-store-sales in the quarter were down 4.1%. Excluding the effect of February's harsh winter weather, Q4 "Core" SSS decreased 0.5%, which was in-line with previously reported Q3 results, B&N noted. NOOK device and accessories sales were $25M for Q4 and $260M for FY14, declining 30.1% and 44.8%, respectively, due to lower selling volume and lower average selling prices. Barnes & Noble sees FY15 College same-store-sales, Retail comparable bookstore sales and "Core" comparable bookstore sales to be down in the low-single digits. WHAT'S NOTABLE: During the company's earnings conference call, Barnes & Noble said it does not plan to open any retail bookstores in FY15 and it does not intend to further discuss details of the separation of its Retail and Nook Media divisions at this time. Still, the company says that it is "encouraged" by core business trends. Barnes & Noble is expecting FY15 capital expenditures of $140M. The company noted that it has "clearly seen an uptick" in sales of Hachette books due to the Amazon (AMZN) fight. PRICE ACTION: During late-morning trading, shares of Barnes & Noble were up $1.24 or 6%, to $21.80.
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September 11, 2014
11:07 EDTBKSOptions with decreasing implied volatility
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09:37 EDTAMZNActive equity options trading on open
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September 10, 2014
16:00 EDTAMZNOptions Update; September 10, 2014
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11:22 EDTBKSOptions with decreasing implied volatility
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10:37 EDTAMZNChannelAdvisor data shows soft August for eBay, says RW Baird
RW Baird analyst Colin Sebastian says ChannelAdvisor same-store-sales data for August confirms eBay (EBAY) had a soft month. Sebastian believes eBay's new Defect Rate may be pressuring sellers. He remains "somewhat cautious" on eBay in the near-term, but keeps an Outperform rating on the name. Sebastian noted that same-store-sakes data for Amazon.com (AMZN) is more positive.
10:31 EDTAMZNChannelAdvisor says August Amazon SSS up 45.1%, eBay up 5.9%
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10:26 EDTAMZNDiscovery CEO says likes doing deals with Netflix, Amazon
CEO David Zaslav says Comcast (CMCSA)/Time Warner Cable (TWC) deal "presents some serious issues," is talking to FCC about deal. Says will be opportunistic with international acquisitions, but "We don't feel like we need to acquire anything at this point." Says has more subscribers than ESPN with Europsport. Comments made at the Goldman Sachs Communacopia Conference.
09:38 EDTAMZNActive equity options trading on open
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08:02 EDTAMZNTrex launches Outdoor Lighting on Amazon.com
Trex (TREX) has officially entered the e-commerce marketplace with the launch of its high-performance Trex Outdoor Lighting collection on Amazon.com (AMZN). The first product line to be sold by Trex online, Trex Outdoor Lighting will join other Trex-branded products currently available on Amazon through Trex licensees, including Trex Outdoor Furniture, Trex RainEscape and Trex Pergola.
06:24 EDTAMZNAmazon to debut Fire Phone in U.K.
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September 9, 2014
16:00 EDTAMZNiPath S&P 500 VIX Short-Term Futures up 74c to 28.25
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15:05 EDTAMZNAmazon.com falls to session lows, levels to watch
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12:02 EDTBKSOptions with decreasing implied volatility
Options with decreasing implied volatility: KERX CIEN FNSR PAY BKS PVH NAV BYI FTR JOY
10:29 EDTBKSBarnes & Noble says third parties see value in NOOK assets
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10:18 EDTBKS, AMZNBarnes & Noble says won't launch new bn.com in time for holiday season
Says "extremely happy" with Retail's Q1 performance, sees moderation of physical booksales decline. Says sees sales lift due to dispute between Amazon (AMZN) and Hachette. Regarding the launch of bn.com says making progress on development, but completion taking longer than expected. The company plans to launch the new site later this FY, but not in time for holiday season. Comments made on the Q1 earnings conference call.
08:37 EDTBKSBarnes & Noble's NOOK launched first co-branded tablet with Samsung
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08:33 EDTBKSBarnes & Noble sees FY15 college SSS to decline low-single digits
For FY15 the company continues to expect both Retail comparable bookstore sales and Retail Core comparable bookstore sales to decline in the low-single digits. College comparable store sales are also expected to decline in the low-single digits. The company expects full fiscal year EBITDA losses in the NOOK segment to decline versus the prior year.
08:32 EDTBKSBarnes & Noble says making progress on separation of Retail and NOOK Media
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08:32 EDTBKSBarnes & Noble reports Q1 EPS (56c), consensus (63c)
Reports Q1 revenue $1.2B, consensus $1.26B. “Core” comparable bookstore sales, which exclude sales of NOOK products, decreased 0.4% for the quarter. Comparable College store sales decreased 2.0% for the quarter, primarily impacted by the timing of the start of the back-to-school rush season as compared to last year. Comparable College store sales reflect the retail selling price of new or used textbooks when rented, rather than solely the rental fees received and amortized over the rental period. The NOOK segment had revenues of $70 million for the quarter, decreasing 54.3% from a year ago.
06:29 EDTBKSBarnes & Noble results likely to highlight retail business strength, WSJ says
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