We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
On Thursday, shares of bookselling behemoth Barnes & Noble Inc. are rallying, up about 5.5% in afternoon trading after reports surfaced that the company has been involved in talks to sell.
According to StreetInsider, which pins the initial report on Bloomberg, who then cites DealReporter—complicated, I know—Barnes & Noble was reportedly working with financial adviser Guggenheim Securities for six months, talking with many potential buyers like Platinum Equity and Apollo Global Management (APO - Free Report) .
However, the report said that a Barnes & Noble spokesman said that the company was not currently talking to or engaged with any sales process.
Additionally, a company spokesperson told Benzinga “Although we have an obligation as a public company to listen to any proposals or offers from outside parties, we are not engaged in a process at this time.”
While this rumor has some serious flaws, it does follow pressure put on the bookseller by activist investor Sandell Asset Management Corp, which had urged Barnes & Noble’s board to strategically review its business and even consider a sale.
Year-to-date, BKS stock has lost 36% in value. The company currently sits at a #3 (Hold) on the Zacks Rank.
One Simple Trading Idea
Since 1988, the Zacks system has more than doubled the S&P 500 with an average gain of +25% per year. With compounding, rebalancing, and exclusive of fees, it can turn thousands into millions of dollars.
This proven stock-picking system is grounded on a single big idea that can be fortune shaping and life changing. You can apply it to your portfolio starting today. Learn more >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Why Shares of Barnes & Noble (BKS) Rallied Today
On Thursday, shares of bookselling behemoth Barnes & Noble Inc. are rallying, up about 5.5% in afternoon trading after reports surfaced that the company has been involved in talks to sell.
According to StreetInsider, which pins the initial report on Bloomberg, who then cites DealReporter—complicated, I know—Barnes & Noble was reportedly working with financial adviser Guggenheim Securities for six months, talking with many potential buyers like Platinum Equity and Apollo Global Management (APO - Free Report) .
However, the report said that a Barnes & Noble spokesman said that the company was not currently talking to or engaged with any sales process.
Additionally, a company spokesperson told Benzinga “Although we have an obligation as a public company to listen to any proposals or offers from outside parties, we are not engaged in a process at this time.”
While this rumor has some serious flaws, it does follow pressure put on the bookseller by activist investor Sandell Asset Management Corp, which had urged Barnes & Noble’s board to strategically review its business and even consider a sale.
Year-to-date, BKS stock has lost 36% in value. The company currently sits at a #3 (Hold) on the Zacks Rank.
One Simple Trading Idea
Since 1988, the Zacks system has more than doubled the S&P 500 with an average gain of +25% per year. With compounding, rebalancing, and exclusive of fees, it can turn thousands into millions of dollars.
This proven stock-picking system is grounded on a single big idea that can be fortune shaping and life changing. You can apply it to your portfolio starting today. Learn more >>