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Stock Market & Financial Investment News

News Breaks
May 20, 2014
12:20 EDTSPLS, USTR, ODPStaples 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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February 5, 2016
11:16 EDTSPLSParty City enters into e-commerce relationship with Staples
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February 2, 2016
16:02 EDTSPLS, ODPStaples, Office Depot finalize merger agreement extension
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11:10 EDTSPLSStocks with call strike movement; NFLX SPLS
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January 29, 2016
05:26 EDTODPStocks with implied volatility movement; CCL ODP
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January 28, 2016
05:20 EDTODPStocks with implied volatility above IV index mean; HLF ODP
Stocks with implied volatility above IV index mean; Herbalife (HLF) 63, Office Depot (ODP) 94 according to iVolatility.
January 27, 2016
10:23 EDTODPOptions with decreasing implied volatility
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January 25, 2016
16:04 EDTSPLS, ODPStaples announces leadership changes as it streamlines structure
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06:47 EDTSPLS, ODPStaples offers to boost payment for loan to back Office Depot deal, Reuters says
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