Barnes & Noble shares soar on Apple report

NEW YORK - Barnes & Noble shares soared on Wall Street Tuesday following a report the US bookstore chain had a deal with Apple, which is expected to unveil a long-awaited tablet computer.



By (AFP)

Published: Wed 27 Jan 2010, 5:26 PM

Last updated: Mon 6 Apr 2015, 10:27 AM

The chain’s shares gained 13.35 percent to close at 19.70 dollars.

Stock prices rose after leading technology blog TechCrunch reported “there is a good chance there will be a Barnes & Noble bookstore built into the Apple Tablet.”

The Apple device, set to be unveiled on Wednesday, is expected to double as an electronic book reader, posing a challenge to Amazon’s Kindle.

Barnes & Noble released its own e-reader, the Nook, last year.

TechCrunch noted reports that Apple has been in talks with HarperCollins, McGraw-Hill and other book publishers but said “a built-in Barnes & Noble bookstore could include up to a million titles in one fell swoop.”

“An Apple Tablet tied to a Barnes & Noble digital bookstore must be Jeff Bezos’ worst nightmare,” TechCrunch said in a reference to the Amazon founder.

TechCrunch said a Barnes & Noble bookstore may be integrated directly into the tablet’s e-reader or offered as a new book section in Apple’s online music store, iTunes.

Amazon shares lost 0.69 percent on Wall Street to close at 119.48 dollars.


More news from Business