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Office Depot’s expanded services, new items drive 2Q results

Office Depot’s emphasis on product innovation and expanded services helped push its second-quarter revenue and profits beyond Wall Street expectations. Under CEO Gerry Smith, who took over the company late last year, the Boca Raton, Florida, chain is attempting to expand beyond selling office supplies to become a one-stop shop for businesses. Office Depot is maneuvering itself to provide services ranging from technology consulting and installation, to logo design. …read more […]

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Icahn warns Cigna investors on Express Scripts deal

Carl Icahn is urging Cigna shareholders to reject the health insurer’s attempted multi-billion dollar takeover of Express Scripts, saying it’s paying too much for a company with a shaky future. The billionaire and activist investor warned that Express Scripts, a pharmacy benefit manager, could face substantial regulatory risks and intense competition from Amazon. Cigna said in March that it would pay $52 billion for Express Scripts, a deal on which shareholders will vote Aug. 24. …read more […]

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Alibaba Is Nearing the Buy Zone After the Recent 10% Pullback

Shares of Alibaba (NYSE:BABA) have certainly not participated in the recent rally. After closing near the $200 level on July 25, reaching $197.98, BABA stock has fallen nearly 10% to $178.62 while the overall markets have headed higher in that time frame. Look for Alibaba to find support and begin to bounce near current levels. …read more […]