6 Buzzing Stocks: Barnes & Noble Teams Up with Microsoft, Scholastic Upgrades Outlook
Barnes & Noble Inc. (NYSE:BKS) shares surged 91 percent in early trading. The company announced it is teaming up with Microsoft Corp. (NASDAQ:MSFT) to create a new subsidiary that will house the digital and college businesses of the bookseller. Microsoft will make a $300 million investment in the subsidiary for around 17.6 percent.
Shares of Scholastic Corp. (NASDAQ:SCHL) gained more than 7 percent before the opening bell. The company said stronger-than-expected book sales of the “Hunger Games” trilogy after the release of the blockbuster movie is providing a boost to earnings. Scholastic now expects 2012 adjusted profit to surpass $3.40 per share, compared to its prior estimate of $2.60 to $2.90 per share.
Don’t Miss: Ford Receives Restrictor Plate from Europe
Sohu.com Inc. (NASDAQ:SOHU) shares fell more than 8 percent early Monday. The company announced that its first-quarter brand advertising business declined 22 percent from the previous quarter. The company explained, “We had a challenging first-quarter in our brand advertising business. Because of lackluster auto sales and the slowing real estate market, many automakers and real estate developers decided to defer their marketing plans.”
Ford Motor Co. (NYSE:F) shares declined .80 percent in pre-market trading. The auto-maker received a downgrade from Craig-Hallum to Hold from Buy. Analyst Steven Dyer also reduced his price target on shares by $4 to $13.
Apple Inc. (NASDAQ:AAPL) shares declined more than 1 percent in early trading, despite the tech giant being called a contender to be added to the Dow Jones Industrial Average by Barron’s over the weekend. “The guardians of the Dow need to ensure that this benchmark, created in the 19th century, stays relevant for a 21st century market,” it wrote.
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