Markets Are Looking To Bounce Back Following Yesterday's Decline On Fed Worries

   Markets Are Looking To Bounce Back Following Yesterday's Decline On Fed

  PR Newswire

  LONDON, February 21, 2013

LONDON, February 21, 2013 /PRNewswire/ --

NetSpend Holdings, Inc., the alternative financial service solutions company,
was the biggest gainer in the Nasdaq yesterday. The stock gained $3.52 to
$15.81 after global financial services provider Total System Services Inc.
(TSS) announced its pact to acquire leading prepaid debit card provider
NetSpend Holdings Inc. (NTSP) for $1.4 billion. The deal is scheduled to
culminate by mid-2013, once the regulatory compliances are fulfilled.

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Herbalife Ltd. (NYSE: HLF) - Shares of HLF declined sharply on Wednesday,
making the stock the one of the biggest losers on the NYSE. The stock closed
down 4.93% following it's earnings report that topped analysts' estimates and
raised its earnings forecast for this year as sales rose in Asia. Net income
increased 12 percent to $117.9 million, or $1.05 a share, from $105.4 million,
or 86 cents, a year earlier, the Cayman Islands-based company said yesterday
in a statement. Analysts projected profit of $1.03 a share, the average of
seven estimates compiled by Bloomberg. Herbalife is fighting accusations from
Bill Ackman, founder of New York hedge fund Pershing Square Capital Management
LP, who accuses the company of using inflated pricing, misleading sales
information and a complicated incentive structure to hide a pyramid scheme.
The company has repeatedly denied these allegations, saying it is
retail-oriented and sells products with unique ingredients.

Millennial Media, Inc. (NYSE: MM) - MM hit a new 52-week low on Wednesday at
$8.78 a share. The stock closed with a decline of 37.54% at $8.95. This
decline was due to a disappointing Q4 financial report by the mobile
advertising solutions provider. Adding to the pressure, Morgan Stanley
analyst Jordan Monahan cut his rating on the stock today to Equal Weight from
Overweight, asserting that competition in the mobile ad space has emerged
sooner than previously expected. MM traded 16,677,196 shares on Wednesday,
significantly higher than the stock's average of 829,251 shares.

Office Depot, Inc. (NYSE: ODP) - ODP shares closed off 16.73% at $4.18 per
share on Wednesday on volume of 129,803,834 shares traded. The company has
agreed to combine with rival OfficeMax Inc. (NYSE: OMX) in an all-stock deal
worth about $1.2 billion that would transform the office-supply retail sector
by helping the No. 2 and No. 3 chains compete against industry behemoth
Staples. The transaction is expected to close by the end of 2013, subject to
shareholder and regulatory approval. "This combination will create a
stronger, more global, efficient competitor able to meet the growing
challenges of our rapidly changing industry," said OfficeMax CEO Ravi Saligram
in a call with analysts.

Staples, Inc. (NASDAQ: SPLS) - SPLS saw it's shares decline 7.17% to close
Wednesday at $13.60. The office supply retailer saw it's share tumble as of
it's top rivals merging & erased nearly all of the stocks' Tuesday gains.
Nomura analyst Aram Rubinson stated Staples would eventually be a winner as
the company stands to pick up sales from store closings and it would also
stand to benefit from contract sales that "shake out" from the merger. While
the terms of the deal weren't known at the time of his report, Rubinson said
the potential benefit to Staples would be similar regardless of the structure
and price paid.

Bank of America Corporation. (NYSE: BAC) - Bank of America Corp was yet
another loser on the NYSE yesterday closing down 3.20%. The stock reached a
high of $12.29 earlier in the trading day before following the overall market
indices lower. Trading volume was unusually high with over 2.7 million shares
traded. Plug Power Inc. engages in the design, development, commercialization,
and manufacture of fuel cell systems for the industrial off-road markets
worldwide. One month ago shares of plug were trading at more than double its
current price at $0.59. On Tuesday the company disclosed Chief Executive
Brian Moynihan's pay increased 73 percent in 2012 from the previous year to
$12.1 million, as the bank gave him a bigger package of stock awards. The
second-largest U.S. bank gave Moynihan a raise when other CEOs on Wall Street
received a pay cut, after Bank of America's stock soared in 2012 and it made
progress in resolving lawsuits from the financial crisis. 

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