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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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December 11, 2014
15:15 EDTODP, SPLSStarboard confident FTC would approve Staples-Office Depot deal, Bloomberg says
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14:31 EDTODP, SPLSOffice Depot, Staples rise amid merger speculation, Citi says tie-up unlikely
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14:03 EDTSPLSStaples upgraded to Peer Perform from Underperform at Wolfe Research
13:03 EDTODP, SPLSOn The Fly: Midday Wrap
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11:58 EDTODP, SPLSStarboard wants Staples, Office Depot merger, CNBC reports
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11:49 EDTODP, SPLSStarboard likely to push for Staples, Office Depot merger, says Citigroup
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11:06 EDTSPLSStaples rises sharply on Starboard stake, levels to watch
Shares hit a fresh 52-week high of $16.32 after Starboard took a 5.1% stake in the company. At the current price of $16.18, next resistance is at that new high and then at $16.60. Support is at $15.97.
10:13 EDTSPLSOn The Fly: Analyst Upgrade Summary
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09:16 EDTODPOn The Fly: Pre-market Movers
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08:37 EDTODP, SPLSStaples, Office Depot merger would face FTC contract hurdle, says Janney Capital
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08:17 EDTSPLSStaples upgraded to Equal Weight from Underweight at Morgan Stanley
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06:25 EDTSPLS, ODPStarboard may push for Staples, Office Depot merger, WSJ reports
Activist investor Starboard Value LP may push for a merger between Staples (SPLS) and Office Depot (ODP), Wall Street Journal reports, citing people familiar with the matter. Starboard this morning reported a new 5.1% stake in Staples while also upping its position in Office Depot to 9.9% from 8.6%. The activist didn't detail any of the changes it seeks in today's filings. Reference Link
06:19 EDTSPLS, ODPStarboard raises stake in Office Depot to 9.9% from 8.6%
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06:17 EDTODP, SPLSStarboard reports new Staples stake, ups Office Depot position
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06:12 EDTSPLSStarboard Value reports 5.1% stake in Staples
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05:50 EDTODPStocks with implied volatility movement; SPY ODP
Stocks with implied volatility movement; Standard and Poor's Depository Receipts (SPY) 16, Office Depot (ODP) 67 according to iVolatility.
December 10, 2014
10:33 EDTSPLSOptions with increasing implied volatility
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05:53 EDTSPLSStocks with implied volatility movement; SPLS DISH
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December 9, 2014
10:27 EDTSPLSOptions with increasing implied volatility
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07:42 EDTSPLSStaples management to meet with UBS
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