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BKS

Barnes & Noble

$6.00

-0.25 (-4.00%)

16:40
07/03/18
07/03
16:40
07/03/18
16:40

Barnes & Noble terminates CEO Demos Parneros for violation of policies

The board Barnes & Noble announced the termination of its CEO, Demos Parneros, for violations of the company's policies. This action was taken by the company's board, who were advised by the law firm Paul, Weiss, Rifkind, Wharton & Garrison. Parneros' termination is not due to any disagreement with the company regarding its financial reporting, policies or practices or any potential fraud relating thereto, Barnes & Noble said in a statement. Parneros will not receive any severance payment and he is no longer a member of the company's board. Barnes & Noble has appointed a leadership group to share the duties of the office of the CEO until a new leader is named. Those appointed include: Allen Lindstrom, Chief Financial Officer, Tim Mantel, Chief Merchandising Officer and Carl Hauch, Vice President, Stores. Leonard Riggio remains Executive Chairman of the Company and will be involved in its management. The company said it will begin an executive search for a new CEO and that no changes in its goals or objectives are planned. Additionally, the company affirms its previously announced EBITDA guidance of $175M-$200M for fiscal 2019.

BKS Barnes & Noble
$6.00

-0.25 (-4.00%)

12/01/17
CHLM
12/01/17
DOWNGRADE
CHLM
Hold
Barnes & Noble downgraded to Hold from Buy at Craig-Hallum
12/01/17
12/01/17
DOWNGRADE
Target $8

Hold
Barnes & Noble downgraded to Hold following revenue miss at Craig-Hallum
As previously reported, Craig-Hallum analyst Alex Fuhrman downgraded Barnes & Noble to Hold from Buy after the company's Q2 revenue missed expectations, saying that its reiterated 2018 EBITDA guidance is now more dependent on a second half improvement and cost cuts. The analyst, who thinks weak top-line growth is likely to continue for the foreseeable future, cut his price target on B&N shares to $8 from $15.
12/01/17
12/01/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Priceline (PCLN) downgraded to Hold from Buy at Argus with analyst John Staszak downgraded Priceline (PCLN) saying shares are fairly valued around the current price level of $1,740 as the stock trades near the high-end of its five-year PE range. 2. Cummins (CMI) downgraded to Neutral from Buy at Goldman Sachs with analyst Jerry Revich saying to position for the next leg of the Machinery recovery, he prefers exposure to agriculture over trucks. 3. VMware (VMW) was downgraded to Hold from Buy at Gabelli and Drexel Hamilton. 4. Barnes & Noble (BKS) downgraded to Hold from Buy at Craig-Hallum with Alex Fuhrman citing the company's second quarter revenue miss. 5. Regeneron (REGN) downgraded to Neutral from Buy at Citi with analyst Robyn Karnauskas saying she believes the competitive threat from Novartis' (NVS) vision-loss drug RTH258 is being underappreciated by the market. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

HEI

Heico

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SSP

E.W. Scripps

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-0.37 (-1.97%)

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STI

SunTrust

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2.67 (4.60%)

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AMZN

Amazon.com

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4.01 (0.24%)

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STAA

STAAR Surgical

$35.10

0.59 (1.71%)

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TPC

Tutor Perini

$18.33

0.5 (2.80%)

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INTU

Intuit

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2.23 (1.05%)

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BX

Blackstone

$32.91

0.28 (0.86%)

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Blackstone CEO doesn't think U.S. on verge of recession, CNBC reports »

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RDS.A

Royal Dutch Shell

$61.07

0.89 (1.48%)

07:50
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DMAC

DiaMedica Therapeutics

$3.50

-0.16 (-4.37%)

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DiaMedica Therapeutics announces publication of paper on KLK1, AIS »

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ALXN

Alexion

$116.97

2.32 (2.02%)

07:49
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Alexion analyst commentary  »

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SMTX

SMTC Corp.

$5.60

0.12 (2.19%)

07:49
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TIF

Tiffany

$89.85

4.6 (5.40%)

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  • 22

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HTHT

Huazhu Group

$34.94

1.94 (5.88%)

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GHG

GreenTree Hospitality

$12.97

0.18 (1.41%)

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TXMD

TherapeuticsMD

$5.10

-0.135 (-2.58%)

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TherapeuticsMD management to meet with Oppenheimer »

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ORTX

Orchard Therapeutics

$13.00

0.2 (1.56%)

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JEC

Jacobs Engineering

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1.99 (3.29%)

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STT

State Street

$71.19

0.07 (0.10%)

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TOO

Teekay Offshore Partners

$1.42

0.07 (5.19%)

, TK

Teekay Corp.

$3.74

0.28 (8.09%)

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TOO

Teekay Offshore Partners

$1.42

0.07 (5.19%)

TK

Teekay Corp.

$3.74

0.28 (8.09%)

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OZK

Bank OZK

$32.07

4.47 (16.20%)

07:45
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ABMD

Abiomed

$333.74

3.69 (1.12%)

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TGTX

TG Therapeutics

$4.51

0.095 (2.15%)

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LXP

Lexington Realty

$9.01

0.01 (0.11%)

07:44
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CYTK

Cytokinetics

$6.83

-0.19 (-2.71%)

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