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Office Depot (ODP) Stock Slides Ahead of Earnings Report

NEW YORK (TheStreet) -- Office Depot (ODP - Get Report) stock is falling 2.43% to $7.43 in afternoon trading on Monday, before the company reports its 2015 third quarter financial results, expected on Tuesday before the market open.

The company is expected to post a year-over-year rise in earnings per share, but a decline in revenue for the latest quarter.

Analysts have estimated earnings of 16 cents per share, up from 10 cents per share that the company reported for the third quarter of last year.

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Revenue is estimated to decline 7.6% year-over-year to $3.74 billion for the quarter, compared with $4.04 billion for the same quarter last year.

The office products retailer will not hold an earnings call because it is being acquired by Staples (SPLS) in a $6.3 billion transaction.

Last month, the companies agreed with the Federal Trade Commission to extend the regulatory review period for the acquisition until December 8.

The deal is approved in Australia, New...


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