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Stock Market & Financial Investment News

News Breaks
January 3, 2014
06:01 EDTACTG, SPLSAcacia Research enters into settlement, patent license agreement with Staples
Acacia Research (ACTG) announced that its Express Card Systems subsidiary has entered into a settlement and patent license agreement with Staples (SPLS). The agreement resolves litigation that was pending in the United States District Court for the Eastern District of Texas.
News For ACTG;SPLS From The Last 14 Days
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June 30, 2015
15:04 EDTACTGAcacia Research resolves litigation with W.L. Gore & Associates
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06:04 EDTACTGAcacia Research enters into limited settlement with ZTE Corporation
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June 29, 2015
06:02 EDTACTGAcacia Research enter into settlement, patent license agreement with Kyocera
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06:00 EDTACTGAcacia Research enter into settlement, patent license agreement with BMW
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June 25, 2015
14:05 EDTSPLSStaples, Office Depot shares head lower as analyst highlights merger pitfalls
Shares of Staples (SPLS) and Office Depot (ODP) are in negative territory following a Citi research note identifying significant downside potential if their proposed merger is blocked. The note follows news on June 23 that a U.S. District Court has approved the preliminary injunction of the US Foods-Sysco (SYY) merger. WHAT'S NEW: In the wake of the FTC's preliminary injunction of the US Foods-Sysco deal, Citi's Kate McShane issued a note on the proposed merger of Staples and Office Depot. The FTC is expected to release a public version of its Sysco ruling this Friday, and McShane said details of the injunction could shed light on whether the Staples-Office Depot merger is likely to follow a similar path. The analyst sees a 40% and 49% downside scenario for Staples and Office Depot, respectively, were the merger to fail, versus a 20% upside for Office Depot shares if a successful outcome is reached. WHAT'S NOTABLE: The FTC stated on June 23 that the Sysco-US Foods merger "would lead to higher prices and diminished service," and U.S. District Judge Amit Mehta cited the probability of "substantially" reduced competition. Building on those pieces of information, Kate McShane notes that a merged Staples-Office Depot may only capture 15%-25% of the addressable market, in contrast to the 75% market share of a Sysco and US Foods combination. McShane cautioned that if she limits her analysis to just Fortune 100 companies, the 15%-25% figure would likely be higher, but refrains from stronger speculation on the probability of the deal closing. On June 24, the New York Post cited sources calling the merger "unlikely" after the Sysco injunction. As noted by Citi, if regulator sentiment swings against the office supply companies, shares could head sharply lower. PRICE ACTION: Staples is down 0.4% in afternoon trading, while Office Depot is down 0.3%.
08:50 EDTSPLSStaples has 20% upside if Office Depot deal closes, says Citi
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06:47 EDTSPLSStaples volatility low into expected closure of its merger with Office Depot
Staples (SPLS) July weekly call option implied volatility is at 23, July is a 22, September is at 28; compared to its 52-week range of 20 to 53, suggesting decreasing price movement into the expected closure of its proposed $6.3B merger with Office Depot (ODP).
June 24, 2015
09:10 EDTSPLSOn The Fly: Pre-market Movers
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07:12 EDTSPLSStaples deal unlikely after Sysco-US Foods merger blocked, NY Post reports
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June 22, 2015
06:12 EDTACTGAcacia Research subsidiaries enter into agreement with Mercedez-Benz
In a regulatory filing, Acacia Research disclosed that its subsidiaries Innovative Display Technologies and Delaware Display Group entered into a settlement and license agreement with Mercedes-Benz U.S. International, Inc. and Mercedes-Benz USA, LLC. This agreement resolves patent litigation, Civil Action No. 2:14-cv-00535, pending in the United States District Court for the Eastern District of Texas.
June 19, 2015
09:19 EDTSPLSStaples sees Office Depot deal completed by end of year
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08:20 EDTSPLSOffice Depot shareholders approve acquisition by Staples
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June 18, 2015
07:32 EDTSPLSStaples Advantage Canada announces partnership with Ital Florist
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