Published February 25, 2014
Office Depot Shares Pummeled And Other #Stocks2Watch
#Stocks2Watch: Office Depot Shares Pummeled
Office Depot shares plummeted Tuesday after the office-supply store posted an unexpected quarterly loss.
Office Depot (NYSE:ODP)
Office Depot (NYSE:ODP) shares are nose-diving after the office-supply company revealed a surprise adjusted loss on weak margins and higher expenses for its merger with OfficeMax (NYSE:OMX).
LinkedIn (NASDAQ:LNKD) launched a Chinese-language site, igniting hopes the professional network can expand quickly into the world's second-biggest economy. Wall Street certainly cheered the news, with shares jumping 3%.
Home Depot (NYSE:HD)
Home Depot (NYSE:HD) shares are climbing after the No. 1 U.S. home-improvement retailer posted better-than-expected quarterly profits and hiked its dividend by 21%. Still, quarterly sales trailed estimates.
Macy's (NYSE:M) saw its quarterly profits climb more than analysts' expected. However, the shares are little changed after revenues missed estimates as a cold winter kept shoppers away.
JPMorgan Chase (NYSE:JPM)
JPMorgan Chase (NYSE:JPM) said its total headcount will fall by 5,000 employees this year amid cuts in consumer and mortgage banking. Meanwhile, expenses will be "flat to down" for the year. The biggest U.S. bank by assets is holding its investor day Tuesday in which management will have its first chance to directly address shareholders following its massive settlement with the U.S. government.