Staples (NASDAQ:SPLS) Inks Definitive Contract With Platinum Equity to Acquire Staples’ Business in Australia and New Zealand- Cypress Semiconductor (CY)

Shares of Staples, Inc. (NASDAQ:SPLS) [Trend Analysis] runs in leading trade, it plunging -1.27% to traded at $8.57. The firm has price volatility of 4.91% for a week and 3.44% for a month. Its beta stands at 1.75 times. Staples, Inc. (SPLS) and Platinum Equity reported a definitive contract under which Platinum Equity will acquire Staples’ business in Australia and New Zealand for an undisclosed sum. The transaction is expected to close in the second calendar quarter of 2017.Staples is a leading supplier of business products, services and solutions in Australia and New Zealand.

The company serves a diverse variety of consumers, ranging from small-and-medium businesses to large enterprises, including federal, state and territory levels of government in both countries.“As we execute our plan for long-term growth we want to focus primarily on our Staples’ North American business, and this will allow us to better do that,” said Shira Goodman, Chief Executive Officer and President, Staples, Inc. “Working with Platinum, we believe the Australian and New Zealand businesses will be well positioned for the future, ultimately helping our consumers and associates succeed.” Narrow down four to firm performance, its weekly performance was -3.38% and monthly performance was -5.09%. The stock price of SPLS is moving down from its 20 days moving average with -6.09% and isolated negatively from 50 days moving average with -6.15%.

Cypress Semiconductor Corporation (NASDAQ:CY) [Trend Analysis] luring active investment momentum, shares an increase 3.12% to $13.89. Cypress Semiconductor Corp. (CY) declared that PSoC 6, its newest microcontroller (MCU) architecture that is purpose-built for the Internet of Things (IoT). The architecture is built on ultra-low-power 40-nm process technology and delivers the industry’s lowest power and most flexible solution, with integrated security features required for next-generation IoT devices.

The architecture fills a gap in the IoT solution space between power-hungry and higher-cost application processors and performance-challenged, single-core MCUs. The dual-core ARM® Cortex®-M4 and Cortex®-M0+ architecture lets designers optimize for power and performance simultaneously. PSoC 6 enables engineers to uniquely create innovative, next-generation IoT devices leveraging the unique PSoC fabric with its easy-to-use, software-defined peripherals.

“As the leader in wireless solutions for the IoT, we saw first-hand that our consumers need a better processing solution that balances performance and power, while implementing critical security functions for connected devices,” said Hassane El-Khoury, President and CEO at Cypress. “Our PSoC 6 MCU architecture is purpose-built to solve these problems, marking a important addition to our broad embedded systems solution portfolio for the IoT.” The total volume of 5.5 Million shares held in the session was surprisingly higher than its average volume of 5910.19 shares. EPS estimates indicating constrictive facts, the current year from sell-side analysts, Price to current year EPS stands at -71.20%, and looking further price to next year’s EPS is 41.77%. While take a short look on price to sales ratio, that was 2.34.

 

About Richard Avery

He is a capital projects manager and process design engineer at a large-cap company. He has renowned MBA degree. Before joining SWR, he was a freelance writer for renounce tech websites. He is currently studying for CFP exam. Interests: Tech stocks, Economic Markets, Blue-chips.

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