Investor Takeaway: Energy XXI (Bermuda) Limited (NASDAQ:EXXI), eBay Inc (NASDAQ:EBAY), Dollar Tree, Inc. (NASDAQ:DLTR), Office Depot Inc (NYSE:ODP)

Posted In Business - By John Anderson On Tuesday, August 19th, 2014 With 0 Comments

Dallas, Texas 08/19/2014 (ustradevoice) – The shadow of Energy XXI (Bermuda) Limited (NASDAQ:EXXI)’s lackluster 4Q2014 performance continues to cast darkness in the stock. Already down almost 48% this year, the stock’s share price dropped 1.7% to $15.48 yesterday, marking another day in the red. The company reported 4Q earnings o $0.24 a share, far below $0.89 in the like quarter a year earlier. Even revenue for the quarter failed to match the consensus estimate, coming at $324 million, yet analysts sought for revenue of $325 million.

eBay Inc (NASDAQ:EBAY), an online marketplace that has been troubled this year with frequent outages, announced a partnership in India, which is expected to further expand its user-base in the country. It said its Indian unit would launch a branded store for a consumer durables retailer, Viveks, on its website. EBAY said the development will benefit its users with attractive prices from Viveks as they shop on the platform. eBay Inc (NASDAQ:EBAY) has more than 2.1 million active users drawn from more than 4,300 cities, town and even villages across India. It continues to tap into the penetration of Internet in the market to take its auction service to more users. Shares of EBAY jumped 0.89% to $53.11.

Dollar Tree, Inc. (NASDAQ:DLTR) tumbled yesterday as its bid for Family Dollar Stores (NYSE:FDO) came under attack with a superior rival offer. Dollar General (NYSE:DG), not ready to miss an opportunity, moved to offer $9.7 billion to purchase Family Dollar. That offer surpasses the $8.5 billion that Dollar Tree offered for Family Dollar. According to Dollar General CEO, Rick Dreiling, their proposal offers substantial premium for the shareholders of Family Dollar. Shares of Dollar Tree traded south more than 2.4% to $54.26 on Monday on the back of the new about the rival bid.

Office Depot Inc (NYSE:ODP) will close two store-locations in Polk County as it continues to adjust its operations after the merger with OfficeMax. About 400 stores are expected to closed, of which 150 will be closed this year. The closure of the stores is expected to help the combined company save up to $75 million every year by 2016. Shares of Office Depot Inc (NYSE:ODP) gained 1.8% to close yesterday’s session at $5.20.

About the Author

- John Anderson is a native of Florida and has received a masters in broadcast journalism from the Medill School of Journalism at Northwestern University.

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