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Stock Market & Financial Investment News

News Breaks
May 20, 2014
12:20 EDTSPLS, ODP, USTRStaples 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
Check below for free stories on SPLS;ODP;USTR the last two weeks.
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September 17, 2014
09:36 EDTSPLSActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL WFM X YHOO TSLA TWTR RAX SHLD SPLS
September 15, 2014
08:35 EDTODPOffice Depot to transfer stock listing to NASDAQ from NYSE
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06:25 EDTODP, SPLSStaples sum-of-parts analysis yields just 10% upside, says Deutsche Bank
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06:19 EDTSPLSStaples September volatility elevated on wide price movement
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06:02 EDTSPLSStocks with implied volatility movement; EBAY SPLS
Stocks with implied volatility movement; eBay (EBAY) 29, Staples (SPLS) 31 according to iVolatility.
September 11, 2014
08:17 EDTUSTRUnited Stationers to acquire auto tools and supplies wholesaler MEDCO for $130M
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September 10, 2014
08:34 EDTODPOffice Depot announces resignation of Starboard's Jeffrey Smith from board
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September 9, 2014
14:54 EDTSPLSApple announces Apple Pay
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14:47 EDTSPLSStaples to support Apple Pay in stores this fall
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07:50 EDTUSTRExecutives' Club of Chicago to hold a luncheon meeting
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September 8, 2014
05:54 EDTSPLSStaples Canada expands Bullfrog Power partnership
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