Microsoft Corporation’s (NASDAQ:MSFT) April offer to purchase an investment in the embattled retailer Barnes Noble Inc. (NYSE:BKS) is thought to have caused shares of the latter to jump by a record 52 percent. The proceeds would have funded its expansion into electronic books as well, but enthusiasm for B&K has since fallen off, according to Bloomberg, and it remains very likely that the largest domestic bookstore chain will continue to struggle.
AT&, Inc. (NYSE:T) is now expected to end its subsidized tablet sales, but will continue to offer slates at full price, says a document sent by sources to Engadget. The communications giant will no longer offer discounted, on-contract sales beginning August 19th, but will offer standard, no commitment prices.
Wal-Mart Stores Inc. (NYSE:WMT) reports that it will extend its Layaway program to between September 16 and December 14th. This program now includes an expanded list of eligible categories along with full refunds of the layaway open fee that will be awarded on Walmart gift cards for customers who make their final payment.
Exxon Mobil Corp. (NYSE:XOM) former Chairman and Chief Executive Lee Raymond has been named by the board of JPMorgan Chase & Co. (NYSE:JPM) to investigate the possible role of current Chief Executive James Dimon in the “London Whale” multibillion-dollar trading blunder, according to the Wall Street Journal. Two other directors were appointed to the inquiry panel: Real estate developer Laban Jackson and former Johnson & Johnson (NYSE:JNJ) Chief Executive William Weldon..
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