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SPLS

Taken private 9/17

$7.41

-0.15 (-1.98%)

17:31
10/17/16
10/17
17:31
10/17/16
17:31

Cerberus in talks to acquire Staples' stores in Europe, Telegraph reports

Cerberus is in talks with Staples over a rescue deal to take on Staples' European stores, the Telegraph reports. The takeover is expected to involve Staples' U.K. high street locations, though there are questions over whether Cerberus will keep the stores open, the report says. Reference Link

SPLS Taken private 9/17
$7.41

-0.15 (-1.98%)

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.
05/23/16
BOFA
05/23/16
UPGRADE
BOFA
Buy
Staples upgraded to Buy from Underperform at BofA/Merrill
BofA/Merrill analyst Denise Chai upgraded Staples (SPLS) two notches to Buy from Underperform and raised her price target to $10 from $8.50. The analyst 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 as Staples focuses on core strengths in Beyond Office Supplies and mid-market while downsizing its retail footprint and potentially divesting loss-making European operations.
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

DKS

Dick's Sporting

$32.33

-1 (-3.00%)

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Conference/Events
Board of Governors of the Federal Reserve System holds a closed meeting »

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MGP

MGM Growth

$29.50

0.96 (3.36%)

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TEUM

Pareteum

$2.31

-0.07 (-2.94%)

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CSOD

Cornerstone OnDemand

$38.94

-0.23 (-0.59%)

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ATVI

Activision Blizzard

$68.71

-1.65 (-2.35%)

, AMZN

Amazon.com

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-0.34 (-0.03%)

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ATVI

Activision Blizzard

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AMZN

Amazon.com

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-0.34 (-0.03%)

NTES

NetEase

$322.08

-6.75 (-2.05%)

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KNX

Knight-Swift

$44.63

-0.37 (-0.82%)

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Conference/Events
Knight-Swift management to meet with Deutsche Bank »

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MPLX

MPLX

$38.28

-0.5 (-1.29%)

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UNH

UnitedHealth

$232.90

4.26 (1.86%)

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UnitedHealth analyst commentary  »

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DE

Deere

$167.54

-1.76 (-1.04%)

08:06
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Deere analyst commentary  »

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  • 16

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RIOT

Riot Blockchain

$18.28

-3.6 (-16.45%)

08:05
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Riot Blockchain's Tess Pay signs agreement for Cresval Capital transaction »

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  • 01

    Feb

WAFD

Washington Federal

$35.60

-0.05 (-0.14%)

08:05
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01/17
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08:05
Earnings
Washington Federal reports Q4 EPS 59c, consensus 51c »

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ICHR

Ichor Holdings

$25.60

0.86 (3.48%)

08:05
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01/17
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Earnings
Ichor Holdings sees Q1 revenue $240M-$250M, consensus $208.35M »

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  • 17

    Jan

OBE

Obsidian Energy

08:04
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FrontFour Capital voices concerns regarding Obsidian Energy »

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HSBC

HSBC

$54.90

0.07 (0.13%)

08:04
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Downgrade
HSBC rating change  »

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ICHR

Ichor Holdings

$25.60

0.86 (3.48%)

08:04
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Earnings
Ichor Holdings sees Q4 revenue $183M, consensus $181.17M »

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  • 17

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RGC

Regal Entertainment

$22.90

-0.07 (-0.30%)

08:03
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Regal Entertainment rating change  »

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GE

General Electric

$18.21

-0.55 (-2.93%)

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GE Transportation signs locomotive, service agreements valued at over $900M »

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  • 24

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DWDP

DowDuPont

$74.95

-0.46 (-0.61%)

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DowDuPont, UC Davis team up to advance orphan African crops »

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ADNT

Adient

$81.91

-0.51 (-0.62%)

08:02
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Adient rating change  »

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  • 29

    Jan

NTN

NTN Buzztime

$4.91

0.3 (6.51%)

, BWLD

Buffalo Wild Wings

$156.65

-0.1 (-0.06%)

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NTN Buzztime digital menu and payment go live at Buffalo Wild Wings »

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NTN

NTN Buzztime

$4.91

0.3 (6.51%)

BWLD

Buffalo Wild Wings

$156.65

-0.1 (-0.06%)

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AMMA

Alliance MMA

$0.87

0.04 (4.82%)

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Alliance MMA, FloSports announce event rights fee deal »

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TSE

Trinseo

$77.45

-1.1 (-1.40%)

08:01
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MMM

3M

$244.74

0.27 (0.11%)

08:01
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3M submits 510(k) application for Attest 24-minute readout »

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LXFT

Luxoft

$55.35

-1.8 (-3.15%)

08:01
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Luxoft rating change  »

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  • 14

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