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Non-Tech : Barnes & Noble (BKS)

BKS 6.490

0.0%

Aug 19 5:00 PM EST

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To: Mr. Stress who wrote (492)	3/18/1999 3:01:00 PM
From: Platter	Read Replies (1) of 1691

From TheStreet.com..Battle of the Booksellers Ensues on Wall Street By David Shabelman Staff Reporter 03/18/99 02:32 PM ET SAN FRANCISCO -- Amazon.com (AMZN:Nasdaq) will soon be competing with barnesandnoble.com, both in e-commerce and on Wall Street. barnesandnoble.com announced it would seek to raise $200 million in an IPO of between 15% and 20% of the company. The Web retailer originally filed in September for a $100 million offering, which was postponed when Bertelsmann AG invested in the company. Its parent company Barnes & Noble (BKS:NYSE) was trading 5 3/4 higher, or 20%, at 34 5/8 after the announcement. Its competitor Amazon.com was up 7, or 5%, at 138 after Salomon Smith Barney initiated coverage of the stock with a buy rating and gave it a price target of 175. Salomon Smith Barney initiated coverage of several Internet retailers, saying that consumers are shifting into online retailing faster than expected.

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