Orlando, FL -- (SBWIRE) -- 10/31/2013 -- 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 Tellabs, Inc. (NASDAQ:TLAB), ACCO Brands Corporation (NYSE:ACCO), Shutterfly, Inc. (NASDAQ:SFLY).
Tellabs, Inc. (NASDAQ:TLAB) shares declined 0.82% to $2.43. Securities lawyers at Deans & Lyons on Oct. 24 announce an investigation against the board of Tellabs Inc. (TLAB) in connection with a buyout for $2.45 per share scheduled for the fourth quarter of the year.
Additionally, the company’s $891 million acquisition by Marlin Equity Partners was challenged by investors in two lawsuits accusing Tellabs of favoring insiders over stockholders. Tellabs, a telecommunications networking products company based in Naperville, Illinois, said Oct. 21 it would be bought by Los Angeles-based Marlin for $2.45 a share in cash, a 4.3 percent premium at the time.
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ACCO Brands Corporation (NYSE:ACCO) shares fell 16.93% to $5.89. The company on Oct. 30 reported its third quarter results for the period ended September 30, 2013. Net sales decreased 6% to $469.2 million, compared to $501.2 million in the prior-year quarter. Income from continuing operations was $26.4 million, or $0.23 per share, including pre-tax charges of $3.7 million. This compared to income of $55.2 million, or $0.48 per share, in the prior-year quarter. Adjusted income from continuing operations in the current quarter decreased 12% to $29.1 million, or $0.25 per share, which compared to $33.2 million, or $0.29 per share, in the prior-year quarter.
Is ACCO going to continue its rally or drop like a rock? Find out with a free trend analysis HERE
Shutterfly, Inc. (NASDAQ:SFLY) shares dropped 6.81% and closed at $48.70 in the last trading session. The company on Oct. 29 forecasted current-quarter results way below analysts' estimates. The company said it expected fourth-quarter adjusted profit of 95 cents-$1.11 per share on revenue of $392.1-$405.1 million. Analysts expected a profit of $1.45 per share on revenue of $414.7 million.
The company's quarterly net loss narrowed to $10.1 million, or 27 cents per share, from $10.5 million, or 29 cents per share. The company posted an adjusted loss of 24 cents per share. Analysts on average had expected a loss of 60 cents per share.
Is SFLY going to continue its rally or drop like a rock? Find out with a free trend analysis HERE
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