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Stock Market & Financial Investment News

News Breaks
February 19, 2013
10:27 EDTODP, SPLS, OMXStaples rallies after analysts predict gains from rivals' merger
Staples (SPLS) is jumping after several research analysts predicted that the company would benefit significantly from a potential merger between its rivals, Office Depot (ODP) and OfficeMax (OMX). Following reports that Office Depot and OfficeMax had held talks about combining, Citigroup analyst Kate McShane predicted that the combined company would close some of its stores. Staples could gain market share as a result of these store closures, according to McShane. The analyst did, however, warn that that the Federal Trade Commission could "look unfavorably" on a merger between Office Depot and OfficeMax. Meanwhile, Jefferies analyst Daniel Binder believes that Staples is poised to benefit from an Office Depot-OfficeMax merger. But Binder warned that the potential benefit to Staples from a deal could vary widely, based on how many stores the combined entity would close and how many stores it would sell to Staples. The analyst, however, estimates that Staples' revenue could increase a total of $40M-$60M and its earnings per share could climb 5c-10c over the next three years as a result of the transaction. In mid-morning trading, Staples gained $1.90, or 15%, to $14.85, while Office Depot surged 16% to $5.30 and OfficeMax soared 25% to $13.50.
News For SPLS;ODP;OMX From The Last 14 Days
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December 11, 2014
14:31 EDTODP, SPLSOffice Depot, Staples rise amid merger speculation, Citi says tie-up unlikely
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14:03 EDTSPLSStaples upgraded to Peer Perform from Underperform at Wolfe Research
13:03 EDTODP, SPLSOn The Fly: Midday Wrap
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11:58 EDTODP, SPLSStarboard wants Staples, Office Depot merger, CNBC reports
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11:49 EDTODP, SPLSStarboard likely to push for Staples, Office Depot merger, says Citigroup
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11:06 EDTSPLSStaples rises sharply on Starboard stake, levels to watch
Shares hit a fresh 52-week high of $16.32 after Starboard took a 5.1% stake in the company. At the current price of $16.18, next resistance is at that new high and then at $16.60. Support is at $15.97.
10:13 EDTSPLSOn The Fly: Analyst Upgrade Summary
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09:16 EDTODPOn The Fly: Pre-market Movers
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08:37 EDTODP, SPLSStaples, Office Depot merger would face FTC contract hurdle, says Janney Capital
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08:17 EDTSPLSStaples upgraded to Equal Weight from Underweight at Morgan Stanley
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06:25 EDTSPLS, ODPStarboard 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 EDTSPLS, ODPStarboard raises stake in Office Depot to 9.9% from 8.6%
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06:17 EDTODP, SPLSStarboard reports new Staples stake, ups Office Depot position
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06:12 EDTSPLSStarboard Value reports 5.1% stake in Staples
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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.
December 10, 2014
10:33 EDTSPLSOptions with increasing implied volatility
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05:53 EDTSPLSStocks with implied volatility movement; SPLS DISH
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December 9, 2014
10:27 EDTSPLSOptions with increasing implied volatility
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07:42 EDTSPLSStaples management to meet with UBS
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December 4, 2014
05:55 EDTSPLSStocks with implied volatility movement; MNKD SPLS
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