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Stock Market & Financial Investment News

News Breaks
May 20, 2014
12:20 EDTUSTR, ODP, SPLSStaples sinks after Q1 profit, guidance trail expectations
Shares of office products company Staples (SPLS) are sinking after the company's first quarter profit and second quarter outlook trailed analysts' consensus estimates. WHAT'S NEW: This morning, Staples reported Q1 adjusted earnings per share of 18c and revenue of $5.65B, compared to expectations of 21c and $5.62B, respectively. Q1 North American same store sales decreased 4%. WHAT'S NOTABLE: The company forecast Q2 adjusted EPS of 9c-14c, short of the consensus of 15c. Q2 revenue was seen decreasing year over year, compared to consensus of $5.19B. The company expects to record pre-tax charges in the range of $105M-$155M associated with restructuring and other related activities during the second quarter. For FY14, the company sees total global restructuring and related charges of $240M-$360M. It expects to generate more than $600M of free cash flow in FY14. The company's free cash flow guidance reflects an expected use of cash in the range of $60M-$100M associated with its 2014 global restructuring and other related activities. It expects to close approximately 40 stores in 2014. PRICE ACTION: In early afternoon trading, Staples fell $1.73, or almost 13%, to $11.66 on more than twice its average daily trading volume. Including today's pull back, the stock is down more than 20% over the past twelve months. OTHERS TO WATCH: Other companies in the office products space include Office Depot (ODP) and United Stationers (USTR), both of which are lower on the session.
News For SPLS;ODP;USTR From The Last 14 Days
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November 21, 2014
10:26 EDTSPLSOptions with decreasing implied volatility
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November 20, 2014
10:35 EDTSPLSOptions with decreasing implied volatility
Options with decreasing implied volatility: DKS SPLS WB GMCR VRX HTZ WSM VIPS BBY AMAT
November 19, 2014
12:46 EDTSPLSOn The Fly: Midday Wrap
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11:56 EDTODP, SPLSStaples rallies after Q3 results beat estimates
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10:25 EDTSPLSOptions with decreasing implied volatility
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09:16 EDTSPLSOn The Fly: Pre-market Movers
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07:47 EDTSPLSStaples sees closing up to 225 North American stores by end 2015
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07:44 EDTSPLSStaples says 'reasonably possible' may incur losses due to data breach
Staples stated in its regulatory filing related to its quarter results: "The company is currently in the process of investigating a data security incident involving an intrusion into certain of the company's retail point of sale and computer systems. The company has taken steps to address the intrusion and believe that we have identified and eradicated the malware used in the intrusion. The company is working with law enforcement and is continuing to investigate the nature and scope of the incident, including whether and to what extent retail transaction data may have been compromised. It is reasonably possible that the company may incur losses in connection with the incident; however, the company is still in the early stages of the investigation and at this time the company is unable to reasonably estimate the amount of any losses or the amount of expenses the company will incur in addressing this incident. The company maintains network-security insurance coverage, which the company expects would help mitigate any material financial impact."
06:23 EDTSPLSStaples up 2% after reporting Q3 results
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06:09 EDTSPLSStaples sees Q4 EPS 27c-32c, consensus 31c
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06:09 EDTSPLSStaples reports Q3 EPS 37c, consensus 36c
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05:58 EDTSPLSStocks with implied volatility above IV index mean; BBY SPLS
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November 18, 2014
15:21 EDTSPLSNotable companies reporting before tomorrow's open
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15:17 EDTSPLSStaples technical comments ahead of earnings
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14:46 EDTSPLSStaples November volatility elevated into Q3 and outlook
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November 17, 2014
10:02 EDTODPOn The Fly: Analyst Downgrade Summary
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06:21 EDTODPOffice Depot downgraded to Neutral from Buy at Goldman
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November 14, 2014
06:22 EDTSPLSStocks with implied volatility above IV index mean; SPLS SINA
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November 13, 2014
10:51 EDTSPLSStaples November volatility elevated into Q3 and outlook
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10:16 EDTODPOffice Depot, OfficeMax stores to open at 6pm on Thanksgiving Day
Office Depot and OfficeMax retail stores will be open from 6-9 p.m. local time on Thanksgiving Day, Nov. 27, and will re-open on Black Friday, Nov. 28, at 8 a.m.
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