No Deal for Barnes & Noble and Apple

Rumors that Barnes & Noble would have some part in Apple's iPad are squelched.
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NEW YORK (

TheStreet

) --

Barnes & Noble

(BKS) - Get Report

is tumbling Wednesday after rumors that a deal was in the works with

Apple's

(AAPL) - Get Report

new iPad were squelched.

On Tuesday, rumors had surfaced that the new

Apple device

would include an electronic Barnes & Noble bookstore, which sent shares up more than 13%.

But that hope dissipated after Apple unveiled the device with no word about a partnership, sending shares of Barnes & Noble tumbling 8.2% to $18.80 in afternoon trading.

The iPad could also be a potential competitor for Barnes & Noble's Nook e-reader.

-- Reported by Jeanine Poggi in New York.

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