Monday, August 13, 2012

Stocks In News (BKS, PFE, BP, GOOG)

Barnes & Noble, Inc. (NYSE:BKS) announced astonishing new, lowest-ever pricing on its award-winning NOOK Tablet and NOOK Color devices, just in time for the back to school season. Starting today customers can purchase the highly acclaimed NOOK Tablet starting at $179 and NOOK Color for $149 at all of Barnes & Noble's nearly 700 stores nationwide, online at NOOK.com and through the other leading retailers offering NOOK(R) products.

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BP plc (ADR) (NYSE:BP) shares fell 0.50% to $42.19 in pre-market hour. On August 10, 2012, BP America Production Co., a subsidiary of BP Plc said it has agreed to sell its Sunray and Hemphill gas processing plants in Texas, together with their associated gas gathering system, to Eagle Rock Energy Partners for $227.5 million in cash. The transaction is expected to close in the fourth quarter of 2012.

Pfizer Inc. (NYSE:PFE) shares declined 0.33% to $23.86 in the pre-market hour. On August 10, 2012, the company announced that the Phase 3 INTORACT trial (B1771006), evaluating the combination of bevacizumab plus TORISEL (temsirolimus) compared with bevacizumab plus interferon-alfa-2a (IFN-α-2a) in the first-line treatment of patients with advanced renal cell carcinoma (RCC) across risk groups, did not meet its primary endpoint of superiority in extending progression free survival (PFS) in the study population.

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Google Inc (NASDAQ:GOOG) shares climbed 1.40% to $651 in pre-market hour. On August 10, 2012, the company said it plans to cut about 4,000 jobs and close certain facilities at its recently acquired Motorola Mobility Holdings Inc. unit, in an effort to return the loss making mobile devices unit to profitability. Two-thirds of the reduction is set to occur outside of the U.S. The company will now shift the emphasis from feature phones to more innovative and profitable devices.

Google bought Motorola in May this year for about $12.5 billion, thereby adding to it a trove of more than 17,000 patents. The acquisition strengthens its move to hardware market and steps up competition with competitor Apple Inc.

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