Diamonds and Dogs
11/26/13Barnes & Noble Inc. (BKS)
Barnes & Noble is trading in the red today, down 5.96% at $15.45. The book and NOOK retailer saw its shares drop after earnings showed revenues continuing to sink. For the quarter, Barnes & Noble announced revenues fell 8% due to lower sales across all of its businesses (retail and NOOK). Revenue in the Nook business, including e-books and devices, fell 32.2 percent to $108.7 million as Barnes & Noble sold fewer e-readers and slashed prices. One somewhat positive note from earnings was that net profit jumped to $13.2 million from $501,000 a year earlier, after the company cut costs in the face of the falling revenue. Shares of the retailer fell nearly $1.00 today but are still above their 52-week low of $12.59.
Workday Inc. (WDAY)
Workday Inc. is doing work today, up 12.67% at $82.59. The cloud-based application company saw its shares jump after better than expected earnings. For the fourth quarter, Workday announced an adjusted loss of $0.12 per share which was better than analysts' expectation of a loss of $0.17 per share. The beat was attributed to a 76% spike in revenue due the companies new initiatives gaining traction with consumers. Management now expects Q4 revenue of $133 million-$138 million, well above the average analyst estimate of $129.1 million. Workday shares tried to get to their 52-week high of $84.42 today, but fell just short.
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