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U.S. Morning Call: Barnes & Noble CEO quits after Nook woes

Tuesday, July 09, 2013 - 03:23

July 9 - Barnes & Noble CEO William Lynch has resigned, acknowledging that the Nook has failed to compete successfully in the tablet market.

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Barnes & Noble CEO closing a chapter in his career resigning after notes latest slump in sales. William lynch walking at a Barnes & Noble on Monday after leading company for three years. He shouldering the blame for -- failure to successfully compete in a tablet market. Crowded by Amazon apple and Samsung. -- -- quarter net sales plunged 34%. Forcing the company to stop making -- tablets. With -- god the focus on the future of the e-book business and where founder and chairman Leonard Riggio wants to go to next. This year Riggio said he wanted to by the parent company's nearly 700 bookstores. Willed enough business spin off. There -- some minority shareholders to consider. Last year Microsoft acquired 17% of -- in a deal that valued the unit at one point seven billion dollars. In December Pearson bought 5% stake in the business valuing it at one point eight billion. Although Barnes & Noble survivor the Amazon challenge a few years back analysts now wonder -- will go the way borders which went bust into 111. Shares down just slightly in the premarket. We don't have companies to compete in the tablet market but the Smartphone market might be even tougher Blackberry knows that all too well. It holds its annual meeting with the shareholders today and CEO Thorsten Heinz we'll have to convince and the company's still on track to win back market share. That will be easy considering sales of its new line of Smartphones in the second quarter came in well below analysts' expectations when it reported results two weeks ago. And new data shows that from march April -- may of this year. Blackberries operating system came in behind windows and that -- the category of other. In terms of market share -- Since that ugly earnings report the end of June and Blackberry shares have fallen 34%. The stocks -- tad higher in the market. Turning -- today and Hulu seems like everybody wants a piece of that. The Wall Street Journal reports has attracted three kids of over one million dollars including -- partnership AT&T and -- group. DirecTV has also made an offer and taking -- at that time digital media enjoy buying -- who -- well. The deadline for the -- this week. And store operator Kroger said it would acquire Harris teeter supermarkets in a deal valued at 2.5 billion dollars. The deal helped Kroger expand to southeast and mid Atlantic states. The offer at just over 49 dollars represented premium of about 2% to Paris -- Monday's close. And finally a quick look at the markets this morning US stock futures in the green bode well for today's opening. And take a look at gold it's climbing to 1240. Cynics and is on track or its biggest gain in seven sessions. That's it for your Tuesday morning call remembered follow us on Twitter. Actually insider and yet more ideas that -- -- slash.

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U.S. Morning Call: Barnes & Noble CEO quits after Nook woes

Tuesday, July 09, 2013 - 03:23