Breakout

Twitter meltdown continues, Walmart web sales surging, Office Depot wowing the street

Breakout

Making the list today as measured by your yahoo finance ticker searches are:

Office Depot (ODP) jumped as much as 19% this morning after the company reported better-than-expected quarterly earnings and raised its full-year forecast. The office supplies retailer announced it would be closing at least 400 stores in the U.S. over the next two years. Shuttering stores will save the company $75 million by the end of 2016. Office Depot will still have 3,600 stores after the closures suggesting there's still more than $360 million in savings potential should the company cease to exist in the physical world.

In more constructive retail news there's, Walmart (WMT). The world's largest retailer trending today as it announces for the first time in a decade its online sales grew faster than Amazon's (AMZN). Global Internet sales at Walmart rose by 30% to $10 billion in 2014, outpacing Amazon’s 20% sales growth during the same period. To be fair Amazon still has about 7 times the online presence of Walmart, but the gang in Bentonville will take growth wherever it can find it. This year Walmart will pass Staples (SPLS) to become the second largest Internet retailer.

Last and certainly not least, Twitter (TWTR). It's been a brutal stretch for Twitter since announcing disappointing user growth last week. Hitting the stock today is the expiration of the 'lock-up' period for insiders and early investors to sell their stock, and they're evidently hitting the sell button hard. According to regulatory filings, around 87% of the company’s shares were in lockup at the time of its IPO. Investors knew this was going to happen, but the pain has been severe. Co-founders Evan Stone and Jack Dorsey as well as CEO Dick Costolo all vowed not to sell shares today. Unfortunately for other shareholders "holding to the bitter end" isn't trending.

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