Barnes & Noble stock falls after downgrade
Stifel Nicolaus downgraded Barnes & Noble Inc. to “hold” because it expects e-books competition to heat up, Reuters reported. Barnes & Noble has bet on e-books, spending millions to develop Nook e-readers and digital books. The Nook business lost $77 million in the fourth quarter. Rivals include Google’s Nexus 7 tablet, Apple’s coming iPad mini, and Amazon’s Prime Video Player app for the iPad.