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Why Acco Brands (ACCO) Stock Is Soaring Today

NEW YORK (TheStreet) -- Shares of Acco Brands (ACCO) were soaring 19.65% to $10.90 on heavy trading volume late Monday afternoon after the company reported better-than-anticipated earnings for the 2016 third quarter and announced an acquisition.

Before today's opening bell, the Lake Zurich, IL-based maker of office supplies posted adjusted earnings of 29 cents per share, topping analysts' estimates by a penny. Revenue for the period was $431.3 million, while Wall Street was looking for $432.3 million.

For 2016, Acco Brands sees earnings per share between 84 cents and 86 cents, above analysts' expectations. Analysts are modeling earnings of 81 cents per share for the full year.

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Additionally, the company today agreed to buy Esselte...


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