Services Sector Bearish Stocks: Staples (NASDAQ:SPLS), Office Depot Inc (NYSE:ODP), Pandora Media Inc (NYSE:P), Renren Inc (NYSE:RENN)



Staples Inc. (NASDAQ:SPLS) will close up to 225 stores in the U.S. and Canada by the end of next year as it seeks to trim about $500 million in costs annually by 2015. Staples, Inc. (NASDAQ:SPLS) stock performance was -15.30% in last session and finished the day at $11.35. Traded volume was 69.19million shares in the last session and the average volume of the stock remained 8.84million shares. The beta of the stock remained 1.50. Staples, Inc. (NASDAQ:SPLS) insider ownership is -3.84%.

There is rapid consolidation under way and rivals Office Depot Inc (NYSE:ODP) and OfficeMax just completed a $1.2 billion merger. Office Depot Inc (NYSE:ODP) dropped -5.70 percent to $4.63 yesterday on volume of 21.28million shares. The intra-day range of the stock was $4.60 to $4.76. Office Depot Inc (NYSE:ODP) has a market capitalization of $2.46billion.

Pandora Media Inc (NYSE:P), the biggest U.S. online radio service and a Spotify rival, went public in June 2011 and through Wednesday has surged 146 percent since its debut. Pandora Media Inc (NYSE:P)’s stock on Mar 06, 2014 reported a decrease of -5.58% to the closing price of $37.23. Its fifty two weeks range is $11.54 -$40.44. The total market capitalization recorded $7.35billion. The overall volume in the last trading session was 15.20million shares. In its share capital, Pandora Media Inc (NYSE:P) has 184.68million outstanding shares.

Renren Inc. (NYSE: RENN), is a leading real-name social networking internet platform in China. In view of the unusual market activity in the Company’s American Depositary Shares (ADS) on Wednesday, March 5, 2014, the New York Stock Exchange has contacted the Company in accordance with its usual practice. On Wednesday, shares of Renren Inc (NYSE:RENN) dropped -6.49% to close the day at $4.47. Company return on investment (ROI) is -8.40% and its monthly performance is recorded as 40.13%. Renren Inc (NYSE:RENN) quarterly revenue growth is 53.08%.

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