12:00 PM New York – Barnes & Noble agreed to buy back its Nook e-reader stake from Pearson and plans to split the business. Cal-Maine profit surged 40%. CalAmp net dropped 4%. Chesapeake Energy announced share-buyback plan for up to $1 billion. Keurig Green recalled 7.2 million brewing machines.
Tollbooth Strategy Index edged down 0.01% or 1 to 10,147.50.
Barnes & Noble, Inc
) jumped 2.9% or 68 cents to $23.76 after the bookseller announced that it has agreed to buy back its Nook e-reader business from the U.K.-based publisher Pearson Plc for about $27.7 million in cash and stock.
In 2013, Barnes sold 5% stake to Pearson for $89.5 million. On December 4th Barnes agreed to reacquire $300 million stake sold to Microsoft for $62.4 million in cash and 2.7 million of its stock.
The bookseller plans to split the business into a separate company by the end of August 2015.
Cal-Maine Foods Inc
) declined 6.1% or $2.71 to $41.40 after the shell eggs producer reported net sales in the second-quarter ending in November climbed 6.9% to $378.6 million from a year ago period.
Net income in the quarter surged 40.2% to $36.6 million or 76 cents a diluted share compared to $26.1 million or 54 cents from a same quarter last year.
) tumbled 10.9% or $2.16 to $17.56 after the wireless communication service provider reported revenues in the third-quarter ending in November slid 0.5% to $63.2 million from a year ago period.
Net income in the quarter dropped 4.3% to $4.02 million or 11 cents a diluted share compared to $4.21 million or 12 cents from a same quarter last year.
The company forecasted adjusted earnings per share for the fourth-quarter in the range of 26 cents to 30 cents and revenues between $66 million and $70 million.
Chesapeake Energy Corp
) slipped 1.3% or 25 cents to $20.04 after the oil and gas explorer announced share-buyback plan for up to $1 billion and said indicated that it completed its sale of shale assets for proceeds of around $5 billion.
Keurig Green Mountain Inc
) gained $1.07 to $137.62 after the specialty coffee and coffeemaker recalled more than seven million of its single-serve hot coffee brewing MINI Plus Brewing System machines mainly due to burn risk for users if water overheats and sprays out of the machines.