Zacks Analyst Blog Highlights: VistaPrint Limited, Office Depot, Office Max, Staples and The McClatchy Company.
For Immediate Release
Chicago, IL – May 26, 2009 - Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: VistaPrint Limited (VPRT - Analyst Report), Office Depot (ODP - Snapshot Report), Office Max (OMX - Snapshot Report), Staples (SPLS - Snapshot Report) and The McClatchy Company (MNI - Snapshot Report).
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Here are highlights from Friday’s Analyst Blog:
More Upside for VistaPrint
After bottoming out in late January, shares of Buy-rated VistaPrint Limited (VPRT - Analyst Report) have climbed more than 130%. Given our outlook for the company’s growth prospects, we expect that the shares could justifiably continue to trade higher.
VistaPrint is an online supplier of high-quality graphic design services and customized printed products to small businesses and consumers.
The company has a number of competitive advantages relative to traditional graphic design and print companies in the areas of price, convenience, quality, and variety. Further, VistaPrint’s online structure gives it additional advantages over other retailers serving the small business market such as Office Depot (ODP - Snapshot Report), Office Max (OMX - Snapshot Report) and Staples (SPLS - Snapshot Report).
The company’s primary targeted market of small businesses with fewer than 10 employees is substantial, providing VistaPrint with significant growth potential.
McClatchy Cashing Debt Securities
It’s an offer bondholders can’t refuse.
The McClatchy Company (MNI - Snapshot Report) has announced an offer to exchange $1.15 billion in debt securities for cash and new notes in a move that extends its earliest maturities and lessons the threat of default -- but at a very steep price.
The publisher of 80 newspapers, including the Miami Herald and Sacramento Bee, will issue new notes, due 2014, that raise its interest rate to 15.75%, from 4.63% to 7.15% on its current debt securities, but extends its nearest maturity from 2011 to 2014.
There will be sufficient cash and new notes to repurchase all of the company’s notes due in 2011 and 2014, while the longer dated notes – maturing in 2017 to 2029 – will be prorated.
A big jump in interest rates is only one incentive for note holders to tender. Those not tendered will be subordinated to the new notes, substantially raising their risk and diminishing their value.
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