Lakeway, NY -- (SBWIRE) -- 02/25/2013 -- ThePennyStockProfiler.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on the following stocks:-
Office Depot Inc (NYSE:ODP) shares gained 5.78% and closed at $4.21 in the last trading session. The company, on Feb. 20, said it will acquire smaller rival OfficeMax Inc in a $976 million all-stock deal, , confirming an agreement inadvertently announced earlier in the day, before it was completed. The combined entity's name, headquarters and CEO are all undetermined, an unusual level of major decisions yet to be made that points to the integration challenge the companies face.
Additionally, the company last week also said that following talks with the largest holder of its common stock, Starboard Value LP, it is extending the deadline for nominating candidates for its board at its annual meeting. The company’s stockholders will now have until the close of business on the tenth day after the company announces the date of its 2013 annual meeting to nominate directors.
How Should Investors Trade ODP After The Recent Price movement? Find out Here
Advanced Micro Devices, Inc. (NYSE:AMD) shares jumped 0.38% to $2.61. The company, last week, announced a new innovation for hybrid PCs that delivers uncompromised mobile PC experiences when in tablet mode or when connected to its base keyboard. Hybrid PCs are a new market segment between full notebooks and pure tablets that AMD plans to demonstrate, along with stand-alone performance tablets, at Mobile World Congress 2013 in Barcelona, Spain next week.
Additionally, AMD‘s stock had its “underperform” rating restated by analysts at Credit Agricole in a research report issued to clients and investors on Feb. 21. They currently have a $2.75 price target on the stock.
Is AMD a Strong Buying Opportunity After The Recent Slump? Find out Here
Rite Aid Corporation (NYSE:RAD) shares gained 1.24% and closed at $1.63. The company, on Feb. 21, announced the completion of its previously announced debt refinancing transactions that extend the maturity of a portion of its outstanding indebtedness and lower interest expense. The refinancing transactions included the amendment and restatement of Rite Aid’s existing revolving credit facility, including an increase in the commitments under the revolving credit facility to $1.795 billion and an extension of the maturity to February 2018.
Additionally, Fitch Ratings, on Feb. 5, has assigned a rating of 'BB-/RR1' to Rite Aid Corporation's (Rite Aid) proposed new $1.725 billion secured revolving credit facility due 2018, $900 million senior secured term loan B due 2020, and $470 senior secured second lien term loan due 2020. The Rating Outlook is Stable.
Is RAD a Pump & Dump Story? Let’s Find out Here
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