Barnes & Noble's shares are skyrocketing today following its announcement of a strategic partnership with Microsoft.
The company's stock soared in early trading to $26, nearly doubling last week's closing price of $13.68. Since then, investors have started to cool, though not by much: as of this writing, the company's shares are up 63 percent to $22.29.
Under the terms of their partnership, Microsoft and Barnes & Noble will own part of a new company, currently known as Newco until a final name can be determined. Microsoft gave Barnes & Noble $300 million for … Read more