Diamonds and Dogs
Staples (SPLS) up 13% on takeover talks. Yesterday it was Panera Bread. Today its Staples that's higher as the company is considering a possible sale. It's only been a year since Staples tried to buy out Office Depot after Office Depot bought out Office Max. Consolidation is in the air.
Acuity Brands (AYI) shinning a little less bright today. The LED lighting company is down 15% after missing earnings by 7 cents as revenue missed as well. Sales did grow 3.5% year/year to $804.7 million. Third-party forecasts suggest that the softness in market demand that began in the third calendar quarter of 2016 and continued through our second quarter may persist through the remainder of our fiscal 2017.