Lakeway, TX -- (SBWIRE) -- 02/26/2013 -- vb-news.net, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on the following stocks:-
Barnes & Noble, Inc. (NYSE:BKS) Chairman Len Riggio yesterday announced of acquiring he retail stores and website business of the company and not the Nook e-book business.
Nook e-book business is continuously facing competition from Apple’s iPad and Amazon’s Kindle and is going through a very bad phase.
Is BKS Still a Buy After The Solid Gain Recent? Let’s find Out Here
“The issue is whether there is positive value in money-losing, increasingly poorly positioned Nook Media division,” Credit Suisse wrote in a note to clients.
Credit Suisse expects the e-book division to lose $300 million this year, on top of $262 million in losses last year.
“Left alone, even with cash, will that business make it on its own, or is taking out the positive cash flow of retail ... a death knell for Nook Media?” Credit Suisse wrote.
Riggio, the owner of 30% stake in the company, did not disclose any terms of his bid but is subject to approval of a special board committee of three independent directors including Billionaire John Malone who will be a key factor in any deal.
Honda Motor Co Ltd (ADR) (NYSE:HMC) shares rose by 15 cents or 0.41% to $36.72 in the morning session following an announcement made by the company of introducing three models catering to the China market with partner Dongfeng Motor Group Co. by 2015 in a bid to regain market share lost after tensions escalated.
How Should investors Trade HMC After The Latest News? Find out Here
Chen Binbo, executive vice president of Dongfeng Honda said that the new products are part of the automaker’s drive to almost double sales by 2015, and will include a global model to be first introduced in China and two country-specific cars.
“It will take Japanese carmakers at least three years to recover the market share of about 23, 24 percent during the best times,” Chen said. “To achieve this, all Japanese carmakers should work hard to speed up the introduction of new products and to better understand customers’ needs.”
In the second half of the year Honda will also begin to produce and sell the Concept-S, a wagon-like model first unveiled at the 2012 Beijing auto show.
“It’s the right decision to introduce more models that cater to Chinese needs,” Lin Huaibin, an analyst with researcher IHS Automotive in Shanghai. “One of the reasons why Japanese brands have lost ground in recent years is because they have been slower to embrace Chinese tastes.”
Honda has another joint venture in China with Guangzhou Automobile Group Co.
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