Staples Inc posted a quarterly profit that edged past analysts' expectations and announced an improved cost-savings outlook on Tuesday, sending its shares up nearly 6 percent.
CHICAGO (AP) - Staples Inc. reports results for the third quarter on Tuesday. The following is a summary of key developments and analyst opinion related to the period.
As the market wobbles, Staples (NASDAQ: SPLS) is thriving. Monthly consumer spending at Staples is up 13% for the year. The average customer spent $78.94 in October 2008 up from $69.86 per visit in January 2008, according to data from the new Main Street Spending Index ((MSSI)) compiled by Geezeo.
Post-election selloff. U.S. stocks plunged to finish with their worst losses in two weeks. With the election settled, traders focused on more mundane matters like weak job numbers and deep declines in goods and services industries. A weak outlook from tech bellwether Cisco (CSCO) sent stocks futures down further in overnight trade. Sellers unloaded financial stocks like Citigroup (C) and Bank of America (BAC) in the last hour of trading, which likely represents heavy mutual-fund selling. "People have accepted that even with a new president and new...
Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Tuesday November 4.
Taking Profits
Cramer says the current market is overbought and is looking stronger after a tempestuous October. Share prices are rising, shorts are being squeezed and there are more buyers than sellers. Cramer would sell some stocks and trim positions in others. He recommends buying recession-resistant stocks that are trading at or near their cash levels and have seen their dividends rise as their share prices have fallen. "It's time to take profits before they disappear," said Cramer. "Be ready to buy, buy, buy when the...
Market Analysis Commentary: Relative Price Volume Momentum Tracks scans the Russell 3000 components for stocks that are moving up or down on relatively strong surging volume. Such stocks may signal institutional buying or selling and have a tendency to continue further in their current market direction. From a contrarian perspective, buying and selling on extreme volume also has a tendency to produce short term reversals of a stock’s market direction on the following day of trading.
Market Analysis Summary: In a bear market, panic and fear trigger irrational and indiscriminate selling of stocks at prices without the slightest consideration for fundamentals or valuations. On Wall Street, this is typically known as "throwing babies out with the bath water". Year-to-date, the SP-500 benchmark index has declined -36.66%.
A correction of this magnitude is extraordinary, and while the trend could extend further south before a new bull market emerges, this is a good time to survey the damage. Some of the bear market’s casualties, i.e. collaterally...
As the end of summer approaches and July turns to August, many families are overcome by grief and relief: the former from students, that the first homeroom is near, and the latter from parents, for the same reason. With every advertisement baiting families with the “best” Back-to-School sales of the season, three major office supply retailers prepare to battle for the buck in the online channel.
A baseline check ranks Staples (SPLS) as the clear front runner, both by improving 32% on average in monthly visitors last year and by maintaining a...
SEC extends naked shorting ban, maybe more to come. The SEC extended the temporary restrictions on naked short selling of 19 financial stocks to Aug. 12. It did not broaden the stock universe covered by the ban, and it said it won't be extended beyond Aug. 12. SEC chief Christopher Cox said that after the current rule expires, the agency will consider rule changes that would focus on the broader market. It is said to be studying numerous ideas. Shares of the 19 firms enjoyed an initial bounce, but...
OfficeMax (OMX) is expected to report Q2 earnings after market close Tuesday, July 29, with a conference call scheduled for Wednesday at 11:00 a.m. ET.
Guidance
Analysts are looking for a profit of 18c on revenue of $2.02B. The consensus range is 3c to 29c for EPS, and revenue of $1.98B to $2.1B, according to First Call. At June's Piper Jaffray Consumer Conference, the company said that uncertainty of the magnitude of the weakness will make it difficult to predict FY08 bottom line and performance. Executives said that the company expects to be impacted by the...
PROMOTING GREEN FUTURE: Promise Tree winner Nikesh Bulsara from Baverstock Oaks Primary with OfficeMax managing director Kevin Obern. A special Promise Tree is helping children find ways to ...
In business school, I remember learning about "just-in-time" inventory management, a process that Ford Motor Company (NYSE: F) founder Henry Ford described using in the 1920s and that automakers ...
By Sarah Coffey NEW YORK, Dec 2 (Reuters) - Staples (nasdaq: SPLS - news - people ) Inc posted a quarterly profit that edged past analysts' expectations and announced an improved cost ...
As OfficeMax?s David Armstrong has argued, issues of execution and task completion are likely to dominate the CEO?s agenda in upcoming months. In this context, it is timely to revisit the thoughts ...
OfficeMax has brought back its popular ElfYourself.com viral-marketing campaign, complete with a Facebook page that offers users the option to place elf videos on their profile pages. MediaPost ...
NEW YORK (AP) - Standard & Poor's on Monday reiterated a junk rating of "BB-" on the debt of OfficeMax Inc. and revised its outlook to negative. "The outlook revision reflects our expectation that ...
OfficeMax, Inc. - SWOT Analysis company profile is the essential source for top-level company data and information. The report examines the company?s key business structure and operations, history ...
Available exclusively from OfficeMax, the Gateway M-7818u looks more expensive than its $779.99 price tag suggests. This stylish notebook comes with a sizable hard drive and lots of memory, but it ...
OfficeMax launched its first design-based private label brand, TUL, with dry-erase markers. This product line is expected to act as a retail differentiator. In addition, the company tied-up with ...
By Beth Snyder Bulik And so OfficeMax is bringing back its viral-video hit promotion "Elf Yourself" for the third year, this time in partnership with JibJab, a digital entertainment company with ...
Staples Inc., the largest U.S. office supplies chain, says that its third-quarter profit dropped 43%, hurt by customers cutting back on the purchases of furniture, computers and business machines in the face of the declining economy.
SAN FRANCISCO (MarketWatch) -- Nasdaq OMX Group Inc. said late Tuesday short interest in the exchange fell to 7.41 billion in 3,124 securities at the end of the Nov. 14 settlement date, compared with 7.86 billion shares in 3,142 shares for the settlement date of Oct. 31. Short interest in 2,597 Nasdaq Global Market securities also fell to 7.27 billion shares from 7.71 billion shares in 2,610 issues.
SAN FRANCISCO (MarketWatch) -- OfficeMax Inc. said late Thursday it will cut 245 jobs from its corporate staff and field management in North America. The company expects to save about $20 million from the cuts, and pay out $8.5 million in severance costs. The company employs about 36,000 workers.
SAN FRANCISCO (MarketWatch) -- Nasdaq OMX Group Inc. said late Tuesday short interest in the exchange fell from two weeks ago. The exchange reported short interest in 7.86 billion shares in 3,142 securities at the end of Oct. 31, down from 8.11 billion shares in 3,139 Nasdaq securities at the end of Oct. 15.
Israeli shares trade higher, gaining for a second straight session, with Israel Chemicals and its parent, the banks and Teva Pharmaceutical Industries all taking part in a broad move to the upside.
TEL AVIV (MarketWatch) -- The Tel Aviv Stock Exchange and the Shanghai Stock Exchange signed a cooperation agreement, the TASE said on Monday. The exchanges plan to work to deepen the ties between the business communities in Israel and China to encourage cooperation and mutual investment, the TASE said. It's the fourth such accord in the past two years for the TASE, following agreements with the London Stock Exchange, Nasdaq OMX and the New York Stock Exchange.
CHICAGO (MarketWatch) -- Nasdaq OMX Group Inc. said Thursday it expects to reap synergies from acquisitions ahead of schedule as the exchange operator's third-quarter earnings beat market expectations. The company said it will achieve the $100 million gain from this year's purchase of Stockholm-based OMX AB in the fourth quarter. It had initially targeted the end of 2009 for the benefits before bringing this forward to the first quarter of next year.
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