Barnes & Noble slumps as co to depart S&P SmallCap index

Barnes & Noble Education

28/03/2022 15:52

** Barnes & Noble  BNED.N  drops 15.4% to $3.45 early Mon in
wake of S&P Dow Jones index changes
    ** BNED last down 5.4% at $3.86 on trading volume of ~1.8
mln shares, nearly triple the 10-DMA
    ** Book retailer to be replaced in S&P SmallCap  .SPCY 
index effective Apr 4 by Embecta Corp, which is being spun off
by medical device maker Becton Dickinson  BDX.N   urn:newsml:reuters.com:*:nPn6NCsssa
    ** BNED "no longer representative of the small-cap market
space," S&P Dow Jones said
    ** BNED's shares on Mar 8 closed down 18.8% at $3.89 after
co warned its adjusted profit for fiscal year 2023 would be
lower than pre-COVID levels, citing continuation of wholesale
supply issues and inflation  urn:newsml:reuters.com:*:nL2N2VB1LU
    ** With decline on Mon, stock down ~44% YTD for market cap
of roughly $195 mln, per Refinitiv data

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))