BUZZ-U.S. Stocks on the Move-NewLink, RadioShack, Wet Seal, Lakeland
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U.S. stocks were poised for a higher open on Thursday after a three-day drop for the S&P 500 as data pointed to a strengthening economy that appeared likely to overcome the impact of a steep drop in oil prices. Dow Jones industrial average futures were up 0.29 percent at 17,592, S&P 500 futures were up 0.38 percent at 2,034.25 and Nasdaq 100 futures were up 0.33 percent at 4,241.
** STAPLES INC, Wednesday close $14.815, +9.48 pct premarket
** OFFICE DEPOT INC, Wednesday close $6.725, +9.74 pct premarket
Activist investor Starboard Value LP disclosed a 5.1 percent stake in Staples and raised its holdings in Office Depot to about 10 percent, possibly setting the stage for a merger of the struggling office-supply retailers.
** WET SEAL INC, Wednesday close $0.2789, -46.93 pct premarket
The women's apparel retailer said on Wednesday it may seek to restructure under provisions of the bankruptcy code if it fails to address liquidity in the near term. The company said strategies may include out-of-court restructurings. Wet Seal also reported a 9 percent decline in third quarter sales.