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Stock Market & Financial Investment News

News Breaks
February 20, 2013
12:35 EDTTSS, OMX, MM, NTSP, ODP, HNR, CATOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday following the release of several domestic economic reports and ahead of the minutes from the last FOMC meeting. The averages drifted quietly with little direction in the early part of the session, but weakened following rumors that a sizable commodity hedge fund was in trouble and was forced to liquidate. Details of that rumored collapse were scarce, though crude prices were down over 2% in midday trading... ECONOMIC EVENTS: In the U.S., Commerce Department figures showed total housing starts dropped 8.5% to a 890K rate in January, which was less than forecast. However, building permits were up 1.8% in the month, versus expectations for an increase of 1.2%. Producer prices in January rose 0.2%, versus expectations for an increase of 0.3%. The core producer price inflation figure, which excludes volatile food and energy components, rose 0.2%, which was in line with expectations. Also, the Federal Reserve is scheduled to release the minutes from its Jan. 29-30 meeting at 2pm ET... COMPANY NEWS: Shares of Office Depot (ODP) and OfficeMax (OMX) both declined after confirming their previously rumored plan to merge, but the announcement took a strange turn. Office Depot inadvertently announced the deal early as part of its earnings report, though both companies confirmed the merger in press releases later in the morning. Following the confirmation of the all-stock deal, Office Depot fell 14%, while OfficeMax slid nearly 4%... Dow member Caterpillar (CAT) declined almost 2% after disclosing that global retail machine sales dropped 4% in the three months through January, continuing a trend of declining sales that began in the prior month... MAJOR MOVERS: Among the notable gainers was NetSpend (NTSP), which rose over 28% to $15.79 after agreeing to be acquired by Total Systems (TSS) for $16 per share. Shares of buyer Total Systems slipped more than 6%. Also lower were shares Harvest Natural Resources (HNR), down over 38% after its agreement to sell interests in Venezuela was terminated, and Millennial Media (MM), which fell 36% after its quarterly report and a downgrade of the stock at Morgan Stanley... INDICES: Near midday, the Dow was down 18.97, or 0.14%, to 14,016.70; the Nasdaq was down 17.42, or 0.54%, to 3,196.17; and the S&P 500 was down 6.17, or 0.40%, to 1,524.77.
News For ODP;OMX;CAT;NTSP;TSS;HNR;MM From The Last 14 Days
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December 16, 2014
09:14 EDTODPOffice Depot upgraded at BB&T
As noted earlier, BB&T upgraded Office Depot (ODP)to Buy from Hold . The firm thinks the probability of a merger between Office Depot and Staples (SPLS) has risen significantly following Starboard Value's accumulation of a stake in Staples (SPLS). BB&t thinks that such a deal would be highly EPS accretive at substantial premiums to Office Depot's current stock price., and it thinks that Office Depot's stock is posied to rise even without a transaction.
09:10 EDTODPOffice Depot upgraded to Buy from Hold at BB&T
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08:53 EDTCATCaterpillar downgraded to Underperform from Neutral at Macquarie
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08:24 EDTCATCaterpillar downgraded to Underperform from Neutral at Macquarie
December 15, 2014
16:39 EDTMMMillennial Media files to sell 579,703 shares of common stock
Issuable upon exercise of options assumed as part of the acquisition of Nexage, Inc. The exercise prices of these options are between 7c-24c per share. If all of these options were to be exercised in full, the company would receive total cash proceeds of approximately $82,285.
16:37 EDTMMMillennial Media files to sell 30.73M shares of common stock for holders
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December 12, 2014
16:33 EDTODPStocks finish week lower amid steep decline in oil prices
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December 11, 2014
17:35 EDTODPStaples, Office Depot both look like 'buys', Barron's says
Starboard Value's increased stakes in Staples (SPLS) and Office Depot (ODP) could make a merger more likely; however, even without a merger, both stocks look like "buys," Barron's argues in its 'Barron's Take' column. Reference Link
16:30 EDTODPOn The Fly: Closing Wrap
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15:15 EDTODPStarboard confident FTC would approve Staples-Office Depot deal, Bloomberg says
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14:31 EDTODPOffice Depot, Staples rise amid merger speculation, Citi says tie-up unlikely
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13:03 EDTODPOn The Fly: Midday Wrap
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11:58 EDTODPStarboard wants Staples, Office Depot merger, CNBC reports
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11:49 EDTODPStarboard likely to push for Staples, Office Depot merger, says Citigroup
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09:16 EDTODPOn The Fly: Pre-market Movers
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08:37 EDTODPStaples, Office Depot merger would face FTC contract hurdle, says Janney Capital
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06:25 EDTODPStarboard may push for Staples, Office Depot merger, WSJ reports
Activist investor Starboard Value LP may push for a merger between Staples (SPLS) and Office Depot (ODP), Wall Street Journal reports, citing people familiar with the matter. Starboard this morning reported a new 5.1% stake in Staples while also upping its position in Office Depot to 9.9% from 8.6%. The activist didn't detail any of the changes it seeks in today's filings. Reference Link
06:19 EDTODPStarboard raises stake in Office Depot to 9.9% from 8.6%
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06:17 EDTODPStarboard reports new Staples stake, ups Office Depot position
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05:50 EDTODPStocks with implied volatility movement; SPY ODP
Stocks with implied volatility movement; Standard and Poor's Depository Receipts (SPY) 16, Office Depot (ODP) 67 according to iVolatility.
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