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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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February 27, 2015
10:52 EDTODPOptions with increasing implied volatility
Options with increasing implied volatility: WBAI ARCP BHI TLM ODP
February 24, 2015
06:55 EDTODPOffice Depot sees $400M of cash merger integration expenses from 2014-2016
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06:54 EDTODPOffice Depot expects to achieve synergy benefits of more than $750M by 2016-end
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06:53 EDTODPOffice Depot sees FY15 sales to be lower than FY14, consensus $15.5B
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06:52 EDTODP, SPLSOffice Depot says acquisition by Staples to close by end of 2015
06:52 EDTODPOffice Depot reports Q4 N. American retail division sales $1.54B
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06:51 EDTODPOffice Depot says 2015 operating priorities focus on synergies, efficiencies
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06:51 EDTODPOffice Depot reports Q4 adjusted EPS 7c, consensus 4c
Reports Q4 revenue $3.83B, consensus $3.91B
February 20, 2015
07:20 EDTSPLSWal-Mart wage increase may pressure Target, Staples, Reuters says
Wal-Mart's (WMT) wage increase announcement will likely pressure the retail, fast-food, and restaurant sectors to potentially follow suit, reports Reuters, citing an Edward Jones analyst and the managing director of consultancy firm Strategic Resource Group. The analysts specifically named Target (TGT) and Staples (SPLS). Reference Link
February 16, 2015
16:22 EDTUSTRUnited Stationers announces 2015 charges for business repositioning
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16:19 EDTUSTRUnited Stationers reports Q4 adjusted EPS 88c, consensus 84c
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