Barnes & Noble Pulls Back Off Best Levels But Remains Sharply Higher

(RTTNews) - After moving sharply higher early in the session, shares of Barnes & Noble, Inc. (BKS) have pulled back off their best levels of the day but remain firmly positive in afternoon trading on Thursday. Barnes & Noble is currently up by 20.5 percent after reaching a ten-month intraday high.

The early rally by Barnes & Noble came after the bookseller announced its board has decided to enter into a formal review process to evaluate strategic alternatives for the company.

Barnes & Noble said the decision follows expressions of interest from multiple parties in making an offer to acquire the company, including from Chairman Leonard Riggio.