Barnes & Noble cut its Nook sales forecast for this year and shocked investors by saying it was considering a sale of the electronic reader and tablet business, sending its shares down sharply. The bookseller has been banking on the Nook for growth, so news that holiday sales of the basic touchscreen e-reader were disappointing raised investors’ fears that Barnes & Noble was struggling to keep up with Amazon.com’s Kindle. “They’re going to have to raise capital for Nook if they want to stay viable,” said Morningstar analyst Pete Wahlstrom.
Call it the Ad Bowl. Or the Buzz Bowl. Or the BS Bowl. Doesn’t matter, it all boils down to this: Sunday’s Super Bowl is the biggest day of the year for advertisers, some of which dished out $3 million for the chance to reach an audience of 100 million consumers for 30 seconds. At that price — $100,000 a second — the stakes are high. A good commercial can be a triumph, creating just the kind of water-cooler talk that propels a brand to a new level with consumers. A bad commercial? Well, those behind it better start dusting off the old resume.
As the New York Times puts it this morning: “Even after receiving $15.4 billion in federal loans, General Motors is once again on the brink of financial collapse.” The reason is that the automaker burned through $10.2 billion in the firs quarter, while revenue dropped by almost half to $22.4 billion.