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Barnes & Noble Drops Nook

Barnes & Noble is closing the book on the Nook. Falling victim to competition from tech giants such as Apple, Google, and Samsung, the company’s Nook business saw revenues fall 34 percent to $108 million in the fiscal fourth quarter. While black-and-white Nooks will still be offered, a third-party manufacturer will now produce color tablets. Since the announcement Tuesday morning, which accompanied a disappointing earnings report, Barnes & Noble’s stock price has fallen 16 percent.