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Stock Market & Financial Investment News

News Breaks
March 12, 2014
11:08 EDTAEO, PAY, CIEN, SPLS, EXPROptions with decreasing implied volatility: PAY EXPR CIEN AEO SPLS
News For PAY;EXPR;CIEN;AEO;SPLS From The Last 14 Days
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January 26, 2015
16:33 EDTEXPRExpress note redemption adds 11c to FY15 earnings, says Nomura
Nomura expects the redemption of the 8.75% senior notes to add 11c to Express' FY15 earnings. In addition, the firm says its recent meeting with management highlighted better than expected holiday trends. The firm calls Express shares the cheapest in its retail coverage and keeps a Buy rating on the stock with a $16 price target.
January 21, 2015
10:01 EDTEXPROn The Fly: Analyst Downgrade Summary
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07:08 EDTEXPR, EXPRExpress downgraded to Sell from Buy at CLSA
CLSA downgraded Express to Sell from Buy following the announcement that buyout talks with private-equity firm Sycamore Partners have ended and expectations apparel trends will remain weak into FY16. Price target lowered to $12.
January 20, 2015
13:09 EDTSPLSSources: Staples to spurn Starboard's call to merge with Office Depot, FT says
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13:08 EDTEXPROn The Fly: Midday Wrap
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10:47 EDTSPLSStaples says will consider 'all actions' that would create shareholder value
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10:33 EDTEXPR1981 Investments reports 9.8% stake in Express, intends to review investment
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10:23 EDTSPLSStarboard says Staples should explore merger with Office Depot
Starboard Value, one of the largest shareholders of Staples (SPLS), confirmed, as previously reported, that it has delivered a letter to Ronald Sargent, Chairman and CEO of Staples, and the board of directors of Staples. In the letter, Starboard states in part: "As we discussed in our recent meeting, we believe that the best way to maximize value for Staples' shareholders is through exploring and completing a business combination with Office Depot (ODP). For a variety of reasons, we believe that now is the right time to pursue such a transaction, and we urge you to immediately retain a reputable investment bank and legal advisors to assist the Board in evaluating, structuring and executing a transaction with Office Depot. We believe that a strategic combination of Staples and Office Depot would result in synergies that would more than double the operating profits of the combined company and would create an industry-leading office supply retailer that could more effectively compete against larger retailers and online competitors. The magnitude of value creation from such a business combination far exceeds anything that either company could achieve on a standalone basis. We believe that the evidence is clear that shareholders are broadly supportive of a transaction between Staples and Office Depot. As shown in the chart below, since the merger speculation began last September, Staples' share price has risen over 50%, strongly outperforming the S&P 500...After the recent increase in Staples' share price, we believe the stock now trades at a substantial premium to the intrinsic value of the standalone company. This results in a lower cost of capital for Staples and a stronger currency which could be used to acquire Office Depot. If Staples fails to fully explore and consummate a transaction with Office Depot, shareholders will undoubtedly be extremely disappointed...We understand that this will require cooperation from Office Depot, and we have already expressed to them our strong support for a transaction...Our sincere hope is that we can continue to have a constructive dialogue. However, if it becomes clear to us that you have no intention of seriously pursuing this unique and highly attractive opportunity, it would be a clear sign that significant leadership change is needed at Staples."
10:21 EDTEXPRExpress weakness a buying opportunity, says Mizuho
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09:31 EDTSPLSActivist Starboard urging Staples, Office Depot to merge, WSJ reports
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09:11 EDTEXPROn The Fly: Pre-market Movers
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08:59 EDTSPLSStarboard urged Staples to explore Office Depot merger, Bloomberg says
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08:08 EDTEXPRExpress, Sycamore Partners announce termination of discussions
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08:07 EDTEXPRExpress, Sycamore Partners announce termination of discussions
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January 19, 2015
11:17 EDTCIENTrans Pacific Express selects Ciena for submarine cable upgrade
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11:16 EDTCIENCiena to further upgrade Japan-U.S. cable network
The Japan-U.S. Cable Network recently selected Ciena to expand its trans-Pacific submarine network that spans close to 22,000 km and provides diverse connectivity from Japan to the U.S. This upgrade will utilize the flexibility and scalability of Ciena’s GeoMesh submarine solution and the latest WaveLogic programmable coherent optical technology to further increase the capacity of the network, which was originally upgraded with Ciena’s coherent solution in 2012.
January 16, 2015
13:37 EDTPAYManning & Napier Advisors reports 5.15% passive stake in Verifone
January 15, 2015
10:30 EDTSPLSStaples announces board changes, CEO turns down raise to base salary
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10:19 EDTEXPROptions with decreasing implied volatility
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January 13, 2015
08:43 EDTAEOAmerican Eagle has reached positive turning point, says BMO Capital
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