Staples will no longer provide annual sales or EPS guidance The company says this is due to going up against new competitors in new markets as it expands beyond office supplies. It also said its largest competitor is going through a multiyear integration. Expects to generate more than $600M of cash flow in FY14 which reflects cash payments related to previously announced restructuring activities.
Staples upgraded to Buy from Neutral at UBS UBS upgraded Staples (SPLS) to Buy based on favorable risk/reward and potential synergies and earnings growth from the Office Depot (ODP) acquisition. Price target raised to $20 from $18.