Staples and Depot at year highs

24 March 2005 – New York (NY): Shares of both Staples and Office Depot were trading at 52-week highs yesterday.

Shares at Staples rose $0.59 to $25.35 in afternoon trading on the Nasdaq after Merrill Lynch analyst Danielle Fox upgraded Staples to "Buy" from "Neutral" and said the company offers "predictable earnings growth with strong, rising returns".

 

Depot’s shares climbed $0.66 to a 52-week high of $37.91 on the NYSE.

 

On the same day, shares at OfficeMax rose $0.55 to $30.31 on the NYSE.