Microsoft Nook Deal: Winners & Losers (Update 1)

Updated from 11:26 a.m. EST to provide analyst comments regarding in the seventeenth paragraph.

NEW YORK ( TheStreet) -- Barnes & Noble ( BKS) has pulled itself from the brink of destruction, and teamed up with Microsoft ( MSFT) to provide a formidable third entry in the tablet market.

The partnership sees Microsoft and Barnes & Noble teaming up to form a joint venture for the NOOK tablet, bringing together Barnes & Noble's digital and college businesses.

The tablet market has been dominated by Apple's ( AAPL) iPad, but the joint venture makes Barnes & Noble a formidable player in the space. This could also impact other tablet players who aren't used to going up against the marketing muscle of Microsoft and Barnes & Noble.

Here are the winners and losers from today's announcement:

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