Staples Inc. (SPLS) reported third quarter adjusted income from continuing operations of $0.37 per share Wednesday morning, down from $0.42 a year ago. Analysts expected EPS of $0.36. Fourth quarter adjusted EPS is expected to be between $0.27 and $0.32. The consensus estimate is for EPS of $0.31.
Staples gapped up at the open Wednesday and rose sharply during the first hour of trade, before settling into a range. The stock closed up by 1.16 at $13.92, with volume at a 2 1/2 month high. Staples broke out past resistance and set a 10-month high.
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