Office Depot (ODP) saw a big move last session, as its shares jumped more than 6% on the day, amid huge volumes.
ODP vs. TSCO: Which Stock Is the Better Value Option?
ODP earnings call for the period ending March 28, 2020.
Moody's Investors Service (Moody's) withdrew its ratings for Office Depot, Inc. including the company's Ba3 corporate family rating and Ba3 senior secured term loan ratings. Moody's has decided to withdraw the ratings for its own business reasons.
ODP vs. TSCO: Which Stock Is the Better Value Option?
Yahoo Finance catches up with HP's CEO Enrique Lores fresh off its second fiscal quarter earnings report.
Office Depot (ODP) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
Shares of Office Depot (NASDAQ: ODP) traded up 20% on Wednesday after the company reported first-quarter results that came in ahead of expectations. Office Depot is also adopting a so-called poison pill, an increasingly popular option for companies worried a hostile suitor could try to take advantage of recent market volatility. Office Depot before markets opened on Wednesday reported first-quarter adjusted earnings of $0.12 per share on revenue of $2.7 billion, ahead of analyst expectations for $0.07 per share on revenue of $2.68 billion.
Shares of Office Depot (NASDAQ:ODP) rose 13% in pre-market trading after the company reported Q1 results.Quarterly Results Earnings per share were up 71.43% over the past year to $0.12, which beat the estimate of $0.07.Revenue of $2,725,000,000 less by 1.59% from the same period last year, which beat the estimate of $2,670,000,000.Guidance Office Depot hasn't issued any earnings guidance for the time being.Office Depot hasn't issued any revenue guidance for the time being.Details Of The Call Date: May 06, 2020View more earnings on ODPTime: 01:03 PM ETWebcast URL: https://edge.media-server.com/mmc/p/9jhwt6udTechnicals Company's 52-week high was at $2.81Company's 52-week low was at $1.23Price action over last quarter: down 13.04%Company Profile Office Depot Inc offers office products and services globally. The company uses multiple channels, including office supply stores, Internet sites, an outbound telephone account management sales force, direct marketing catalogs, and call centers. It offers a broad selection of branded office products, including its own branded products and services, under the Office Depot and OfficeMax brands. The product labels offered are TUL, Realspace, WorkPro, Office Depot, OfficeMax, Foray, Ativa, Brenton Studio, Highmark, Grand & Toy, and Viking Office Products.See more from Benzinga * Recap: Blucora Q1 Earnings * Genesis Energy: Q1 Earnings Insights * Owens & Minor: Q1 Earnings Insights(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The business services and office supplies retailer is going to close stores and cut 13,100 jobs, a report says.
Shares of Office Depot (NASDAQ: ODP), a retailer of office products and services, jumped as high as 19% Friday, before giving back some gains, after the company announced plans to lower costs and shift its business model. The strategic move should yield up to $860 million in net savings by the end of 2023. Office Depot will take charges of up to $543 million that include costs associated with store and distribution facility closings and workforce reductions.
Office Depot, Inc. adopts limited duration shareholder rights plan.
Office Depot (ODP) delivered earnings and revenue surprises of 50.00% and 2.95%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]
Office Depot's (ODP) total sales decline during the quarter due to the impact of coronavirus outbreak, however, earnings per share improve year over year.
The office supply retailer still serves the average consumer in its stores, but it's doing a whole lot of business few people ever see.
Office Depot (NASDAQ:ODP) is seeing its stock soar on Friday following news of layoffs coming to the company.Source: Jonathan Weiss / Shutterstock.com Here's everything investors need to know about the Office Depot layoffs. * The company is planning to layoff a total of 13,100 employees. * This comes as it prepares to close down several retail locations. * The reason behind these closures is a realignment of its business. * Office Depot wants to shift its focus to business-to-business and its IT service. * The company says that the goal is to complete this plan by the end of 2023. * That's also when it expects to complete all of the layoffs in connection to its restructuring. * It also mentions that the expected restructuring charges from this endeavor will be $543 million. * However, it's also expecting these changes to bring about $860 million in net savings by the end of 2023.According to reports on TheLayoff.com, Office Depot is already starting the layoffs. One anonymous poster claims that more than 100 people from the company's corporate office were let go on Thursday. Several other posters also chimed in to confirm that the layoffs are underway.InvestorPlace - Stock Market News, Stock Advice & Trading TipsHere's what one of the posters said on TheLayoff.com Office Depot forum."I was one of them, know another 4 that got whacked too. No idea how they chose who got canned, it certainly wasn't too high of a salary or poor skills. My VP called out of the blue in the morning and told me it was my last day."ODP stock was up 9% as of Friday afternoon. More From InvestorPlace * Top Stock Picker Reveals His Next 1,000% Winner * America's Richest ZIP Code Holds Shocking Secret * 1 Under-the-Radar 5G Stock to Buy Now * The 1 Stock All Retirees Must Own The post Office Depot Layoffs: ODP Stock 9% Higher Following News of Store Closures, Job Cuts appeared first on InvestorPlace.
Moody's Investors Service (Moody's) withdrew its ratings for Office Depot, Inc. including the company's Ba3 corporate family rating and Ba3 senior secured term loan ratings. Moody's has decided to withdraw the ratings for its own business reasons.
Office Depot Inc. shares soared 8% in premarket trade Wednesday, after the office supplies retailer blew past estimates for the first quarter. Boca Raton, Fla.-based Office Depot said it had net income of $45 million, or 8 cents a share, in the quarter, up from $8 million, or 1 cent a share, in the year-earlier period. Adjusted per-share earnings excluding charges and M&A costs came to 12 cents, ahead of the 7 cents FactSet consensus. Sales fell to $2.725 billion from $2.769 billion, but were also ahead of the FactSet consensus of $2.680 billion. The company said it had liquidity of $1.7 billion at quarter end, its highest net cash position in two years. "Our B2B focus is helping businesses remain operational in the home or at the office, our facilities have largely remained open serving customers with enhanced sanitation and safety protocols, and our eCommerce platform and retail stores are proving to be trusted means for customers to access the critical products and services they need," Chief Executive Gerry Smith said in a statement. Same-store sales rose 2% in the quarter and e-commerce sales saw a strong jump in demand, he said. The company is withdrawing its 2020 guidance given the uncertainty around the pandemic and is suspending temporarily its share buybacks and dividend payments. Separately, it announced that it has adopted a shareholder rights plan, also known as a poison pill, to block any party from taking advantage of a falling share price to build a stake in the company. Shares have fallen 32% in the year to date, while the S&P 500 has fallen 11%.
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