Microsoft's (MSFT) 'Major' Unveiling Initially Sends Barnes & Noble (BKS) Higher
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Barnes & Noble (NYSE: BKS) shares moved higher in early action Monday ahead of the scheduled Microsoft (Nasdaq: MSFT) event, which will take place later in the session. Investors are now taking profits following the gap higher. The stock is now down 1 percent to $15.40.
Following news last week Microsoft would be hosting an event for a "major" product unveiling June 18th, of which the company sent invites to select members of the media, news outlets and blogs have been flooding the stream with what Microsoft might be up to. For the most part, the consensus has settled on a tablet device to challenge devices running Google's (Nasdaq: GOOG) Android, like Amazon's (Nasdaq: AMZN) Kindle series and Samsung's Galaxy Tabs.
This morning, TechCrunch said its hearing news Microsoft's tablet might have been developed in conjunction with Barnes & Noble.
Microsoft's first next-gen, company-branded tablet is expected to be media-focused, with Xbox streaming features also included in the device.
Should Microsoft's tablet meet speculation, it's unlikely the device would have been created with the intention of stealing wind from Apple's (Nasdaq: AAPL) iPad. Plus, its Office suite just launched on the iPad, the world's best-selling next-generation tablet PC. After all, its not smart to go around stealing steak from the mouth of a lion, right?
As a reminder, in late-April the two announced a NOOK collaboration, which saw Microsoft making a $300 million commitment to Barnes & Noble.
Microsoft shares are slightly lower while Barnes & Noble shares are down 1 percent in early trade. Shares of Barnes & Noble jumped as much as 4.6 percent earlier.
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Following news last week Microsoft would be hosting an event for a "major" product unveiling June 18th, of which the company sent invites to select members of the media, news outlets and blogs have been flooding the stream with what Microsoft might be up to. For the most part, the consensus has settled on a tablet device to challenge devices running Google's (Nasdaq: GOOG) Android, like Amazon's (Nasdaq: AMZN) Kindle series and Samsung's Galaxy Tabs.
This morning, TechCrunch said its hearing news Microsoft's tablet might have been developed in conjunction with Barnes & Noble.
Microsoft's first next-gen, company-branded tablet is expected to be media-focused, with Xbox streaming features also included in the device.
Should Microsoft's tablet meet speculation, it's unlikely the device would have been created with the intention of stealing wind from Apple's (Nasdaq: AAPL) iPad. Plus, its Office suite just launched on the iPad, the world's best-selling next-generation tablet PC. After all, its not smart to go around stealing steak from the mouth of a lion, right?
As a reminder, in late-April the two announced a NOOK collaboration, which saw Microsoft making a $300 million commitment to Barnes & Noble.
Microsoft shares are slightly lower while Barnes & Noble shares are down 1 percent in early trade. Shares of Barnes & Noble jumped as much as 4.6 percent earlier.
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