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Non-Tech : Office Product Stocks - ODP/SPLS/OMX/VKNG/CEXP/OFIS/BOP
SPLS 10.250.0%Sep 28 5:00 PM EST
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To: Nasty P who wrote (116)7/1/1997 10:50:00 PM
From: Ford Investor   of 297
 
Gentlemen, let's examine the last 6 or 7 months in anticipation of the ODP and SPLS merger:

I have read several articles where ODP did some "major investing" in one of their areas of the company to be an integral part of the new company. Also, there was alot of money spent organizing shareholders meetings, company executives negotiating the future, and other expenses I can't quite think of when there is a planned merger. Since the merger did not go through, all of this money was wasted for nothing.

Now, ODP is understaffed which means they will not be able to provide the customer service that was expected from them in the past. Less customer service leads to less customers to less revenue to less profits to missing earnings estimates.

There were 2 brokerage companies that upgraded the stock based on its future expectations. What else can they do to recover some of the money that their major clients have lost? Only one broker recommended a strong sell, my broker A.G. Edwards and they still maintain it.

ODP talks about major expansion. Well, Musicland tried to do the same things and they got hammered with losses because they grew too big too fast. ODP could be headed down that same path.

The options did not move as anticipated by many and the reason for this is that there could be people trying to eliminate this stock from being watched very closely by just weeding everyone out.

My broker said earnings will be coming out by the middle of July, I think they'll miss analysts expectations. ODP will only stay up for a short while before they fall into the cellar again.

Good Luck Investing!
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