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Today's Research Reports on Stocks to Watch: Staples and Rite Aid

NEW YORK, NY / ACCESSWIRE / May 17, 2017 / Rite Aid's shares sank to a new 52-week low after investors became even more anxious about whether or not a Walgreen Rite Aid merger would ever end up happening. It's now been 19 months and the FTC now wants more information. Staples also saw shares drop after reporting disappointing sales in the first quarter that lagged behind what the Street was looking for.

RDI Initiates Coverage on:

Staples, Inc.
https://ub.rdinvesting.com/news/?ticker=SPLS

Rite Aid Corporation
https://ub.rdinvesting.com/news/?ticker=RAD

Staples, Inc.'s shares closed down 3.54% on Tuesday after releasing its first quarter earnings report. The office supplies chain reported adjusted earnings of 17 cents a share, which met what the Street was looking for, but was also an 11% drop from a year ago. This is still the fourth straight quarter that Staples has reported in-line earnings. Unfortunately traders were not happy with sales of $4,149 million. It trailed the Zacks Consensus Estimate of $4,539 million and was also a drop of 4.9% from one year ago. Looking ahead, Staples is now expecting 10-13 cents a share for the second quarter. Analysts according to Zacks Consensus Estimate have called for 12 cents a share for the quarter.

Access RDI's Staples, Inc. Research Report at:
https://ub.rdinvesting.com/news/?ticker=SPLS

Rite Aid Corporation's shares closed down 8.03% yesterday after traders realized the proposed acquisition of Walgreen Boots Alliance and Rite Aid may even take longer than it's already been taking. It has now been 19 months since Walgreen announced that it wanted to acquire Rite Aid, to make America's biggest drug store. The FTC is now seeking for more information and issued civil investigative demands for information about Walgreens' plans to acquire the company. Some sources have said this could mean the FTC is trying to find a way to block the deal. Stefano Pessina, the executive vice chairman and CEO of Walgreens Boots Alliance said, "We are pleased to have certified completion of our submission of documents and information to the FTC in connection with the Second Request. We will continue to work closely with the FTC regarding the pending transaction." Shares of Rite Aid hit a new 52-week low of $3.65.

Access RDI's Rite Aid Research Report at:
https://ub.rdinvesting.com/news/?ticker=RAD

Our Actionable Research on Staples, Inc. (NASDAQ: SPLS) and Rite Aid Corporation (NYSE: RAD) can be downloaded free of charge at Research Driven Investing.

Research Driven Investing

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Nadia Noorani, CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com

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