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ODP

Office Depot

$3.58

0.01 (0.28%)

12:18
10/04/16
10/04
12:18
10/04/16
12:18

Office Depot recalls Winsley chairs due to fall hazard

Office Depot has informed the CPSC that it is recalling about 129,000 Winsley Mid-Back Chairs. The chair can tip over when leaning back, posing a fall hazard, the notice says. No injuries or incidents have been reported.

ODP Office Depot
$3.58

0.01 (0.28%)

05/11/16
OPCO
05/11/16
NO CHANGE
OPCO
Office products retail outlook 'more precarious,' says Oppenheimer
Oppenheimer analyst Brian Nagel views the outlook for office products retail and its leading chains as "more and more precarious," following the decision of a federal judge to side with the Federal Trade Commission and halt the proposed merger of Staples (SPLS) and Office Depot (ODP). Both companies have already announced intentions to focus on internal opportunities and plans to restructure their operating models, which should lead to better bottom-line trends, nearer term, the analyst tells investors in a research note. He adds, however, that top-line growth will remain a challenge, given significant competition and product cycle dislocations. Nagel also notes that he believes that the blocking of this merger could set a precedent for the retail group on whole, viewing a combination of either AutoZone (AZO) or O'Reilly Auto (ORLY) with Advance Auto Parts (AAP) as less than likely.
05/11/16
05/11/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Office Depot (ODP) downgraded to Hold at Jefferies and to Sell at UBS while Staples (SPLS) was downgraded to Hold at Jefferies and Neutral at UBS after the merger was blocked and terminated. Jefferies analyst Daniel Binder said both companies are now vulnerable to secular decline and increased competition. UBS analyst Michael Lasser said Staples' earnings will likely stagnate while Office Depot's sales will likely continue trending downward. 2. Sapiens (SPNS) downgraded to Sell at Roth Capital by analyst Richard Baldry, who said software sales eroded steadily in 2015, leaving the company unwilling to break out software contribution any longer. 3. SeaWorld (SEAS) double downgraded to Underperform at Credit Suisse with analyst Benjamin Chaiken saying expectations for the company are ahead of themselves heading into the 2016 season. 4. Ross Stores (ROST) downgraded to Underweight at Piper Jaffray by analyst Neely Tamminga, who cited the weak consumer environment and said the shares could come under pressure should the first fiscal quarter underwhelm investors. 5. EPIRUS (EPRS) downgraded to Neutral at BTIG and Wedbush after yesterday's announcement of management changes and a strategic change in direction. Wedbush analyst Heather Behanna said 2016 will bring little news flow or clarity on pipeline progress outside of potential partnering activities. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/17/16
UBSW
05/17/16
NO CHANGE
Target $4
UBSW
Sell
Office Depot investors should proceed with caution, says UBS
UBS said the Office Depot strategic update was underwhelming, but that low expectations have been priced into the stock. The firm noted the company has hired Bain Capital to help it explore alternatives, but said until more strategic direction detail is released it is best to proceed with caution. UBS reiterated its Sell rating and $4 price target on Office Depot shares.
05/23/16
05/23/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Allegheny Technologies (ATI) double upgraded to Buy at BofA/Merrill by analyst Timna Tanners, who has increased confidence in the company's engine positioning giving a solid outlook for aerospace and a more neutral view on nickel prices. 2. Universal Display (OLED) upgraded to Buy at Goldman with analyst Brian Lee saying the company should be a key beneficiary of Apple's (AAPL) first-time adoption of OLED displays for iPhone starting in 2017. 3. Schlumberger (SLB) upgraded to Conviction Buy at Goldman by analyst Waqar Syed, who said the company is best positioned for the "New Oil Order" due to its exposure to incremental sources of oil supply. 4. Square (SQ) upgraded to Buy at CLSA following the lockup expiration and overblown credit concerns. The firm said the lockup expiration is behind the company. 5. Staples (SPLS) double upgraded to Buy at BofA/Merrill by analyst Denise Chai, who said the sell-off following the termination of the Office Depot (ODP) merger has created an attractive entry point ahead of a potential earnings upside. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

KTOS

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AZRE

Azure Power

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HEES

H&E Equipment

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NOG

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DRI

Darden

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BTX

BioTime

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MBRX

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GNCA

Genocea

$5.33

0.04 (0.76%)

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DRI

Darden

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0.26 (0.31%)

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AKBA

Akebia

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AXON

Axovant Sciences

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DRI

Darden

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AKBA

Akebia

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AKBA

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DIS

Disney

$99.57

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Periodicals
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SPX

S&P 500

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LCI

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GDX

Market Vector Gold Miners

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