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Stock Market & Financial Investment News

News Breaks
February 20, 2013
16:52 EDTHNR, CHTP, OMX, TSS, CAT, ODP, NTSP, TRIOn The Fly: Closing Wrap
Stocks on Wall Street were lower as each of the major averages dropped after the minutes from the last FOMC meeting indicated several Fed members are ready to vary the pace of bond buying... ECONOMIC EVENTS: In the U.S., 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. The minutes from the FOMC's Jan 29-30 meeting, released at 2 pm ET, said that several Fed members are concerned about the costs and risks of additional asset purchases. Several members of the committee said the Fed should be prepared to vary the pace of asset purchases, as the committee members continued to see moderate economic growth and gradually declining unemployment... COMPANY NEWS: The Office Depot (ODP) and OfficeMax (OMX) merger, reported over the long holiday weekend by the Wall Street Journal, was formally announced by the companies. However, the confirmation was inadvertently released on Office Depot's website ahead of the joint announcement, an error for which Thomson Reuters (TRI) later took responsibility. Shares of both companies, which had run-up after the WSJ story, declined following the confirmation, with Office Depot losing 84c, or 16.73%, to $4.18 and OfficeMax falling $91c, or 7%, to $12.09... Dow member Caterpillar (CAT) dropped $2.38, or 2.49%, to $93.22 after disclosing that global retail machine sales were down 4% in the three month rolling period ending January 31... MAJOR MOVERS: Among the notable gainers were shares of Chelsea Therapeutics (CHTP), up $1.14, or 149.51%, to $1.91 after the company received FDA guidance for a Northera new drug application resubmission and the stock was upgraded to Buy at Ladenburg. Also higher was NetSpend (NTSP), up $3.52, or 28.64%, to $15.81 after agreeing to be acquired by Total Systems (TSS) for $16 per share. Shares of buyer Total Systems lost $1.51, or 6.43%, to $21.97 following the acquisition. Also lower were shares of Harvest Natural Resources (HNR), down $3.71, or 40.5%, to $5.45 after its agreement to sell interests in Venezuela was terminated since the government of Indonesia voted against the transaction... INDICES: The Dow was down 108.13, or 0.77%, to 13,927.54; the Nasdaq was down 49.18, or 1.53%, to 3,164.41; and the S&P 500 was down 18.99, or 1.24%, to 1,511.95.
News For ODP;OMX;TRI;CAT;CHTP;NTSP;TSS;HNR From The Last 14 Days
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December 16, 2014
09:59 EDTCATOn The Fly: Analyst Downgrade Summary
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09:59 EDTODPOn The Fly: Analyst Upgrade Summary
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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 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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