Borders trading under $1

Shares of Borders Group headed south, losing more than 40% after the bookseller reported massive losses and dwindling sales, said it was no longer contemplating a sale of the company, and learned it would soon be booted out of the S&P MidCap 400. Borders said that its third-quarter loss ballooned to $172.2 million, or $2.85 a share, from a loss of $40 million, or 68 cents a share, in the same period of last year. The loss includes non-cash, non-operating charges totaling $133.2 million in the quarter, consisting primarily of deferred tax and fixed asset impairments.