I took a quick look at the last three stock splits (10/28/94, 7/24/95, 3/25/96) and saw mixed results after the split. After the 10/94 split the stock was up after the first month and up 15% After 3 months. The second split 7/95 the stock was up after the first month and up about 33% after 3 months (not bad). The last split 3/96 the stock remained unchanged for a period of time.
Frankly I am not a believer that stock splits cause a stock to go up. I also do not think they necessary indicate that a stock is going to go up. If anything, stock splits are an indicator that the companies stock price has gone up in the past and the company has been sucessful. Staples wants to keep the price in the low-mid $20s.
Remember if you divide a gallon of milk into two containers you still have a gallon of milk. 3 shares of Staples stocks today still represents the value of 2 shares on Friday...No more no less.
That said Staples is doing real well as of this moment. I think It is more of a factor that the market is up, Asian fears are down, retail industry sales & earning are expected to be better originally thought, and Staples will propably exceed Sales and Earning for the Qtr and 97 Fiscal Year. Their also may be a perceived increase in value because of the split. Ultimately sales, earnings and growth will drive the stock price. Keep an eye on that and you'll make the right moves.
It is the rule, rather than the exception, for a stock to stagnante, or even decline, directly after a split for a short peroid of time. Since there is often a presplit run up in price, it could be attributed to a stock leveling to approriate valuation. Look at Peoplesoft, and some of the other high profile stocks that split without supporting the stock post split with a positive earnings release or some other such stock support. SPLS also has an advantage in it's class of stock, over OMX and some of the other similar stocks, in that it has almost no exposure to Asia; SPLS chose to expand into Europe instead, a far more robust economy at this time. You'll notice that it has been steadily rising this week, a percentage or two at a time. If you look at it's yearly chart, and it five year chart, you see that SPLS has returned to it's pre split price within about 12-18 months from each split date. You just can't ask for better, or safer, return on your money than that. Check out the vector vest site I posted in my last post, they give SPLS a glowing report, and a buy reccomendation.