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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.
News For BKS;AMZN From The Last 14 Days
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October 15, 2014
18:26 EDTAMZNOn The Fly: After Hours Movers
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16:00 EDTAMZNOptions Update; October 15, 2014
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13:21 EDTAMZNAmazon investor sentiment near all-time lows, analyst says
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09:38 EDTAMZNActive equity options trading on open
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09:02 EDTAMZNAmazon reports availability of Cloud Drive on Instant video app
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07:04 EDTAMZNAmazon.com sentiment nearing all-time lows, says Deutsche Bank
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06:32 EDTAMZNTablet supply chains expect lagging orders in Q4, DigiTimes reports
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06:25 EDTAMZNAmazon starts same-day deliveries in the U.K., FT reports
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October 14, 2014
09:37 EDTAMZNActive equity options trading on open
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08:35 EDTAMZNAmazon set to open first retail store in San Francisco, GeekWire reports
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06:23 EDTAMZNAmazon.in, Future Group enter into a strategic partnership
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06:19 EDTAMZNGoogle expands Express delivery service, to charge membership fee
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October 13, 2014
16:02 EDTAMZNOptions Update; October 13, 2014
iPath S&P 500 VIX Short-Term Futures up 3.71 to 39.56. Option volume leaders: AAPL TSLA TWTR AMZN FB NFLX SUNE GILD BAC PBR according to Track Data.
13:10 EDTAMZNGoogle's Schmidt says Amazon is company's biggest search rival, FT reports
Eric Schmidt, the executive chairman of Google (GOOG), says Amazon (AMZN) is his company's biggest rival in search, not Bing (MSFT) or Yahoo (YHOO), the Financial Times reports. Schmidt also argued in Berlin that Google should not be regulated "as if it were the gatekeeper of the internet," given the influence of Amazon and Facebook (FB). Reference Link
11:24 EDTAMZNAmazon to create 1,000 new permanent jobs at UK fulfillment centers
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09:03 EDTAMZNAmazon says Prime members to get early access to select Lightning Deals
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08:31 EDTAMZNAmazon, Future Group in online sales pact, Economic Times reports
India's largest listed retailer, Future Group, has signed a deal to jointly sell items over the Internet with Amazon, reported Economic Times, which noted that Future will begin by selling apparel and then expand to in-house brands in the home, electronics and food categories. Reference Link
October 12, 2014
17:20 EDTAMZNGE, Splunk, Cisco, others could benefit from Internet of Things, Barron's says
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October 10, 2014
07:04 EDTAMZNAmazon in talks to join digital locker for movies. WSJ reports
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06:35 EDTAMZNAmazon in discussions for Jabong acquisition, Economic Times says
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