Update: Barnes & Noble.com Skyrockets 30% on Yahoo! Deal

It will replace Amazon.com on the Web portal.
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Updated from 1:35 p.m. EDT

Shares in

Barnes & Noble.com

(BNBN)

, the online offshoot of the nation's largest brick-and-mortar bookseller, soared Tuesday after the company said that it had entered into a marketing

pact with Web portal

Yahoo!

(YHOO)

that will make it the premier bookseller advertising on Yahoo!'s vast directory.

Barnes & Noble.com ended Tuesday regular trading up $1.38, or 30%, at $5.94, after trading as high as $6.31.

Barnes & Noble.com, based in New York, is replacing

Amazon.com

(AMZN) - Get Report

as the top bookseller advertising on Yahoo!. Barnes & Noble.com will be featured throughout the Yahoo! directory and a featured merchant on Yahoo! Shopping, the top-ranked portal shopping destination on the Web, according to

Nielsen/Netratings

.

Amazon.com shares ended down $2.06, or 5%, at $40.75.

Under Santa Clara, Calif.-based Yahoo!'s previous agreement with Amazon, users that searched for a keyword on Yahoo!'s search engine were greeted with a banner advertisement suggesting that they buy their books from Amazon.com. However, recently Amazon.com did not renew its three-year marketing pact with Yahoo!, opting for

America Online

(AOL)

instead.

In addition, beginning in October

Barnes & Noble

(BKS) - Get Report

superstores, which have 551 shops throughout the country, and Yahoo! will offer retail customers free Internet service through

Spinway

, and Internet marketing and service provider based in Sunnyvale, Calif.

Yahoo! closed up $3, or 3%, at $108.06.