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Stock Market & Financial Investment News

News Breaks
May 20, 2014
12:20 EDTODP, SPLS, 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
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April 23, 2015
11:31 EDTSPLSOptions with increasing implied volatility
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07:00 EDTSPLSStaples acquires iOS application Makr
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April 22, 2015
16:28 EDTUSTRUnited Stationers to deliver operating cost savings in 2015, 2016
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16:26 EDTUSTRUnited Stationers reports Q1 adjusted EPS 52c, consensus 52c
Reports Q1 revenue $1.33B, consensus $1.35B.
11:08 EDTSPLSOptions with increasing implied volatility
Options with increasing implied volatility: CZR FMSA PSEC CSX AEO CRM BBY SPLS HPQ DTV
April 21, 2015
09:03 EDTSPLSMartha Stewart, Staples announce multi-year strategic collaboration
Martha Stewart Living Omnimedia (MSO) and Staples (SPLS) announced a new, multi-year strategic direct retail collaboration for the manufacture and distribution of Martha Stewart Home Office products. The assortment will be available at more than 1100 Staples retail stores and online, and will include a wide array of home organizing and home office products across multiple categories, including: stationery and paper products, office essentials and tools, personal technology accessories, and storage and organization products. The new Martha Stewart Home Office products will be available exclusively at Staplesí stores nationwide, Staples.com and Quill.com beginning November 2015.
April 20, 2015
11:01 EDTSPLSStaples to acquire Accolade Promotion Group, terms not disclosed
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April 17, 2015
08:12 EDTUSTRUnited Stationers appoints Janet Zelenka to Chief Information Officer
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08:11 EDTUSTRUnited Stationers promotes Timothy Connolly to COO effective immediately
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April 15, 2015
10:00 EDTSPLSOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: American Tower (AMT) upgraded to Outperform from Neutral at Macquarie... Ameriprise (AMP) upgraded at Morgan Stanley... Builders FirstSource (BLDR) upgraded to Buy from Neutral at Sterne Agee... China Telecom (CHA) upgraded to Outperform from Market Perform at Bernstein... China Unicom (CHU) upgraded to Outperform from Underperform at Bernstein... Discover (DFS) upgraded to Overweight from Neutral at JPMorgan... EV Energy (EVEP) upgraded on asset sale at RBC Capital... GoPro (GPRO) upgraded to Overweight from Neutral at Piper Jaffray... Intel (INTC) upgraded on valuation at RBC Capital... Nike (NKE) upgraded to Overweight from Neutral at Piper Jaffray... Nokia (NOK) upgraded to Market Perform from Underperform at Bernstein... Rice Energy (RICE) upgraded to Buy from Neutral at Goldman... Staples (SPLS) upgraded to Buy from Hold at BB&T... Team (TISI) upgraded to Buy from Hold at BB&T... Ulta Salon (ULTA) upgraded to Overweight from Neutral at Piper Jaffray.
07:00 EDTSPLSStaples upgraded to Buy from Hold at BB&T
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April 13, 2015
11:28 EDTSPLS, ODPStarboard CEO says Staples, Office Depot merger 'likely to go through'
Says confident the potential merger will pass anti-trust scrutiny. Jeff Smith is speaking on CNBC.

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