Office Depot Moving Sharply Higher (ODP)

Office Depot, Inc. ODP is moving sharply higher today, gaining almost 8.5% after the company announced a new change in control agreement. At last check, volume was exceptionally heavy in the name, which is particularly interesting, given that it's a light trading day. Shares were moving higher to the tune of 42 cents on more than 12 million shares. The average trading volume is around 7.5 million shares. Office Depot supplies a range of office products and services. The company’s North American Retail division offers merchandise, such as general office supplies, computer supplies, business machines and other business supplies and consumer electronics.