Barnes & Noble Stock Jumps After Hedge Fund Discloses 12% Stake

Barnes & Noble Inc. shares rose sharply after Jana Partners, a hedge fund that has pushed for companies to sell off assets, disclosed a 12% stake in the largest U.S. bookstore chain. Barnes & Noble is considering separating its growing Nook digital unit into a separate company so investors will give it the higher valuation of a technology business. In March the company hired a new chief financial officer, Michael Huseby, who helped spin off two units while at Cablevision Systems Corp. Jana has taken an activist role in publisher McGraw-Hill Cos., proposing a plan last August to break