Orlando, FL -- (SBWIRE) -- 09/16/2013 -- 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 Office Depot Inc (NYSE:ODP), Applied Materials, Inc.(NASDAQ:AMAT).
Office Depot Inc (NYSE:ODP) shares decreased 0.92% to $4.29. The company on August 29 announced the results of its previously announced cash offer to purchase any and all of its $250,000,000 in aggregate principal amount of outstanding 9.75% Senior Secured Notes due 2019 (CUSIP 676220AG1 and U67518AC1) (the "notes") pursuant to its offer to purchase dated July 30, 2013 (the "Offer to Purchase"). As of the expiration time of the offer (11:59 p.m., Eastern time, August 28, 2013), the Company did not receive any valid tenders from holders of the notes.
Additionally, 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.
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Applied Materials, Inc.(NASDAQ:AMAT) shares dropped 0.13% to $15.91. The company on Sept. 9 announced that its Board of Directors has approved a quarterly cash dividend of $0.10 per share payable on the company`s common stock. The dividend is payable on December 12, 2013 to stockholders of record as of November 21, 2013.
Additionally, the company on August 16 said said Thursday that its fiscal third-quarter net income fell 23 percent while revenue fell 16 percent. Both totals came up short of analyst expectations. The company said its income totaled 18 cents per share excluding special items. Analysts expected 19 cents per share on revenue of $2.06 billion. The company said it took $2 billion in orders, which was less than it received in the second quarter.
Looking forward, the company said it expects to earn between 16 and 20 cents per share in the fourth quarter. Revenue is expected to be about the same as the $1.98 billion it reported in the third quarter. Analysts were expecting income of 21 cents per share and $2.15 billion in revenue, according to FactSet.
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