Borders Gains on E-Reader Launch

Borders is advancing as it begins taking orders for its new e-reader.
Author:
Publish date:

NEW YORK (

TheStreet

) --

Borders

(BGP)

is surging as it begins taking orders for its new e-reader.

Borders will also launch an e-book store and software in June. The Kebo e-reader is cheaper than other similar devices like

Amazon's

(AMZN) - Get Report

Kindle and

Barnes & Noble's

(BKS) - Get Report

Nook, retailing at $149.99. The other two e-readers both sell for $259.

Borders will begin selling the device in stores in August. Pre-ordered Kebos are expected to arrive on June 17.

Shares of Borders are gaining 7.3% to $2.22 in afternoon trading.

-- Reported by Jeanine Poggi in New York.

Follow TheStreet.com on

Twitter

and become a fan on

Facebook.

Battle of the Bookstores

Billionaire Burkle Sues Barnes & Noble