OFFICEMAX 2Q LOSS OF $894Million

[Anonymous]

http://www.marketintelligencecenter.com/articles/652718
OfficeMax Swings to Q2 Loss of $894.2M
July 
2008 OfficeMax Inc. opened at 14.87. So far today, the stock has hit a
low of 12.53 and a high of 14.87. OMX is now trading at 12.36, down
1.75 (-11.77%). The stock hit its 52 week high of 37.21 in August and
set its 52 week low of 10.89 in July. OMX has been moving upwards for
the past year. OfficeMax announced yesterday evening it swung to a
second-quarter loss as of $894.2 million. Excluding one time charges,
the company came with earnings of 24 cents per share on revenue of
$1.98 billion, while analysts forecast a profit of 18 cents per share,
on revenue of $2.02 billion. Technical indicators for the stock are
bearish and steady while S&P gives OMX a positive 4 STARS (out of
5) buy rating. If you’re looking for a hedged play on this stock,
consider a September bear-call credit spread above the $15 range. OMX
stock could rise up to 21.4% before expiration and this position would
still be profitable.

[Author]

July 30, 2008 at 4:28 PM