The Barnes & Noble board has authorized spending up to $50 million to repurchase the retailer’s inexpensive shares. While that seems like a modest initiative by most corporate standards, BN stock has been trading near its low point and as of Wednesday, that new authority would have covered roughly 8 percent of all shares outstanding. The market took proper notice and, at least for today, BN shares have risen by almost $1 a share in the first 90 minutes of trading on the news. Of course what outsiders would really like to see the board spend $50 million on would […]
