British education and media publisher Pearson Plc said it will purchase a 5 percent stake in Barnes & Noble Inc's digital Nook and college bookstore businesses for $89.5 million. Barnes & Noble, whose shares rose as much as 6 percent to $15.19 on the New York Stock Exchange on Friday morning, said the Nook division will not meet prior expectations for its current year.The top U.S. bookstore chain's Nook Media unit comprises its digital businesses - including Nook e-reader and tablets and the Nook digital bookstore - and 674 college bookstores across America.Barnes & Noble said in November that quarterly loss at the Nook division increased on raised spending on its e-readers and tablets to keep pace with larger rivals Amazon.com Inc and Apple Inc.The bookseller also said on Friday that sales in the crucial holiday season will come in below expectations, based on preliminary results and current sales trends.
Apple Inc. (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and sells a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. Shares of AAPL fell by 0.44% or $-2.29/share to $512.77. In the past year, the shares have traded as low as $403.49 and as high as $705.07. On average, 21502500 shares of AAPL exchange hands on a given day and today's volume is recorded at 1216528.
Amazon.com, Inc. (Amazon.com) serves consumers through its retail Websites and focuses on selection, price, and convenience. Shares of AMZN fell by 0.69% or $-1.709/share to $246.60. In the past year, the shares have traded as low as $172.00 and as high as $264.11. On average, 3390690 shares of AMZN exchange hands on a given day and today's volume is recorded at 131315.
Pearson plc, (Pearson) is an international media and education company with its principal operations in the education, business information and consumer publishing markets. Shares of PSO fell by 0.46% or $-0.0895/share to $19.28. In the past year, the shares have traded as low as $17.09 and as high as $20.48. On average, 149266 shares of PSO exchange hands on a given day and today's volume is recorded at 8481.
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