Thread: Barnes and Noble Downgraded due to increased ebook competition
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Old 08-20-2012, 12:33 PM   #1
kennyc
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Barnes and Noble Downgraded due to increased ebook competition
Quote:
Stifel downgrades Barnes & Noble on increased competition in e-books


Wed Aug 15, 2012 9:25pm IST

(Reuters) - Brokerage Stifel Nicolaus downgraded top U.S. bookstore chain Barnes & Noble Inc to "hold" from "buy," as it expects competition in the e-book category to heat up with several big companies launching products.

Shares of Barnes & Noble were down more than 5 percent at $12.55 on Wednesday morning on the New York Stock Exchange.

The bookseller, which has bet its future on staking a claim in the e-books industry, has poured hundreds of millions of dollars in developing the Nook digital books and e-readers.

But keeping Nook competitive is expensive: the Nook business lost $77 million on revenue of $163.6 million in the fourth quarter.

Stifel does not expect customers to switch platforms but sees competition heating up as players including Google Inc, Apple Inc and Amazon.com Inc launch tablets and applications.
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http://in.reuters.com/article/2012/0...87E0QZ20120815
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