Midday movers: Barnes & Noble, Pandora

Stocks are higher as reports on consumer confidence and rising home prices beat expectations.

By MSN Money Partner Jun 25, 2013 1:25PM
Corbis, SuperstocklogoInformation provided by Theflyonthewall.com

Barnes & Noble (BKS) shares plunged 18% after its fourth-quarter results missed expectations and the company said it expects comparable retail bookstore sales to decline in the high-single digits on a percentage basis this fiscal year.

The company also announced this morning that it is moving away from independently building its own tablets and intends to partner to design co-branded tablets with NOOK content. B&N said it plans to offer its existing inventory of NOOK HD and HD+ tablets for sale at "amazing prices through the holiday" as it transitions to its new partner model.  

Among the notable gainers was Pandora (P), which rose 8% after the company said it has reached 2.5M unique activations and is now available in more than 100 car models. 

Among the noteworthy losers was Demand Media (DMD), which fell 20% after the stock was downgraded at Stifel and JMP Securities following the company's Q2 guidance and its purchase of Society6 for $94M in cash and stock. 

Also lower were shares of Walgreen (WAG), which slid more than 7% after the company's quarterly earnings report. 
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