Staples, Inc. (NASDAQ:SPLS) predicts that it will record a pre-tax cash charge ranging from $15 million to $20 million concerning this action during 2012;s Q3. Staples has begun to rebrand its Australian business while it attempts to create one global brand. Staples intends to record a $20 million pre-tax non-cash charge concerning the accelerated tradename amortization by the end of 2012. Staples continues its commitment to returning excess cash to stakeholders and continues its focus on keeping its current investment grade credit rating. Staples believes it will keep repurchasing its common stock via open-market purchases, which should have a total of about $450 million in 2012. Additionally, the company intends to repay its outstanding $325 million Senior Notes that are due in October 2012. Due to this and its continuing cash dividend program, Staples will give back over $1 billion of cash to stakeholders during fiscal year 2012.
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Key Energy Services Inc. (NYSE:KEG) believes that Q3 of 2012 consolidated results from ongoing operations to be lower than its previous expectations. When being compared to the quarter before, it is predicted that consolidated revenue will fall 4 to 5 percent, and operating income margins will fall 250-350 basis points. The outlook change in relation to Key’s previous expectations is mainly credited to market declines in U.S. drilling and completion related activity.CEO Dick Alario stated: “Our prior expectations were for activity in our core oil markets to be relatively flat in the 2H of 2012. Instead, since the beginning of Q3, drilling rig counts in these markets are down approximately 8%, and indications are that customer demand may decline further through the fourth quarter in addition to typical seasonal declines. We will provide more insights regarding our outlook on our Q3 earnings conference call.” Key sold its Argentina operations which will be effective on Sept. 14, and it believes that it will record a non-cash, pre-tax charge against discontinued operations of nearly $45 million during Q3. Key will report on Oct. 25.
LeapFrog Enterprises Inc. (NYSE:LF) has announced that its LeapPad 2 has been chosen for Wal-Mart top holiday toy list
Facebook, Inc. (NASDAQ:FB): Users are prepared to revolt regarding the social network’s most recent security issue, private messages that were written during 2009 and before are now being displayed on public timelines. The issue was first reported in France on Monday, and it describes the ways in which users feel as if their privacy had been breached. French newspaper, Metro, stated that people’s private messages from 2007, 2008, and 2009 could be seen by any friends on the new Timeline feature that began this year. “A small number of users raised concerns after what they mistakenly believed to be private messages appeared on their Timeline,” Facebook said in a statement, according to Agence France-Press. “Our engineers investigated these reports and found that the messages were older wall posts that had always been visible on the users’ profile pages.”
Riverbed Technology, Inc. (NASDAQ:RVBD), a WAN product maker, climbs following its upgrade to Outperform from Market Perform by William Blair analyst Jason Ader in a note to investors earlier today. The company’s transition from a single product company to a multi-product maker is concluding, and its product diversification may have the ability to give it a boost, according to Ader. Also, Ader’s chanel checks suggest that the Riverbed’s federal sales were strong, and its Granite products for data centers may be a tailwind for the company. In early trading, Riverbed saw an increase of 65c, or 2.87 percent, to $23.32.
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