OfficeMax (OMX) Downgraded to Perform by Oppenheimer

OfficeMax (OMX) has been downgraded by Oppenheimer to a Neutral rating.  OMX had been rated at Outperform which has since been decreased to Perform by Oppenheimer.  Price target has been lowered from $14 to $9.50 dollars.

OfficeMax is slated to have their next earnings release on Aug 3, 2011.  Shares of OMX are currently trading below its 50 & 200 day moving averages.  SPLS is currently trading with a yearly loss overall for 2011.

The company has a market cap of about $705,000,000 and 85,969,000 shares outstanding.

OfficeMax (OMX) is a leader in both business-to-business and retail office products distribution. We provide office supplies and paper, print and document services, technology products and solutions and office furniture to large, medium and small businesses, government offices and consumers. OfficeMax customers are served by approximately 30,000 associates through direct sales, catalogs, the Internet and retail stores.

OfficeMax is a leader in both business-to-business and retail office products distribution. We provide office supplies and paper, print and document services, technology products and solutions and office furniture to large, medium and small businesses, government offices and consumers. OfficeMax customers are served by approximately 30,000 associates through direct sales, catalogs, the Internet and retail stores. Our common stock trades on the New York Stock Exchange under the ticker symbol OMX, and our corporate headquarters is in Naperville, Illinois.

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