Orlando, FL -- (SBWIRE) -- 08/29/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On Suntech Power Holdings Co., Ltd. (ADR)(NYSE:STP), Office Depot Inc (NYSE:ODP).
Suntech Power Holdings Co., Ltd. (ADR)(NYSE:STP) shares gained 2.97% to $1.04. The company on August 27 announced that on August 21, 2013, each of Ms. Susan Wang, Mr. Julian Worley, and Mr. Zhizhong Qiu resigned as directors of the Company with immediate effect. Such directors indicated that they could no longer serve effectively as independent directors for reasons that included not being provided with information that was critical for them to fulfill their responsibilities and the Company's failure to implement some of their proposed actions.
Additionally, the company, on August 7, announced that it has regained compliance with the New York Stock Exchange's ("NYSE") minimum share price listing requirement. In a letter dated August 2, 2013, the NYSE notified the Company that a calculation of Suntech's average stock price for the 30 trading days ended July 31, 2013 indicated that its stock price was above the NYSE's minimum requirement of an average trading price of $1 over a 30-day trading period and was above $1 on the last calendar day of the month of the trading period. On July 31, 2013, the Company's closing stock price was $1.44.
Are investors worried about the recent updates with STP? Find out with a free trend analysis HERE
Office Depot Inc (NYSE:ODP) shares increased 2.94% to $4.20. Analysts at SunTrust raised their price objective on shares of MHR from $6.50 to $7.00 in a research report issued to clients and investors on August 22. The firm currently has a “buy” rating on the stock.
Additionally, the company on August 20 announced that negotiations it initiated to reach a good-faith compromise with its largest shareholder, Starboard Value LP, ahead of the Company's Annual Meeting of Shareholders on August 21, have not resulted in an agreement. Office Depot initiated the negotiations after hearing from its shareholders that they were supportive of adding new perspectives to the Company's Board.
Is ODP going to continue its rally or drop like a rock? Find out with a free trend analysis HERE
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