Can Staples Earnings Change The "going sideways" Path?
On Tuesday morning we’ll get to see earnings out of Staples, Inc. (NASDAQ: SPLS). The estimates for the office supplier from First Call are $0.47 EPS on $5.37 billion in revenues. Next quarter estimates are $4.91 billion in revenues. Estimates for fiscal Jan-2009 are $1.58 EPS on $20.88 billion in revenues.
This last acquisition offer for Corporate Express (NYSE: CXP) is also going to be a key focus as this stock has been dead money. Analysts have an average price target north of $27.00 and Staples’ 52-week trading range is $19.69 to $27.00. On last look, this had just over 15 million shares listed as being in the short interest.
Jon C. Ogg
March 1, 2008