The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy. * Starboard Value acquired a roughly 6 percent stake in Staples Inc, a person briefed on the matter said on Wednesday. The hedge fund also bolstered its holdings in Office Depot Inc - where it previously sat on the board - to 10 percent, from 8.6 percent. (nyti.ms/1uoWBY6)* Morgan Stanley agreed on Wednesday to pay a $4 million fine for failing to properly limit a rogue trader whose $1 billion bet on Apple Inc stock brought down the firm where he worked. (nyti.ms/12x8Hak)
Apple Inc. (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. Shares of AAPL fell by 1.9% or $-2.17/share to $111.95. In the past year, the shares have traded as low as $70.51 and as high as $119.75. On average, 54324400 shares of AAPL exchange hands on a given day and today's volume is recorded at 44565320.
Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS fell by 1.86% or $-0.71/share to $37.39. In the past year, the shares have traded as low as $28.31 and as high as $38.14. On average, 10322100 shares of MS exchange hands on a given day and today's volume is recorded at 13788669.
Office Depot, Inc. (Office Depot) is a global supplier of office products and services. Shares of ODP traded higher by 2.67% or $0.175/share to $6.72. In the past year, the shares have traded as low as $3.84 and as high as $7.01. On average, 9871670 shares of ODP exchange hands on a given day and today's volume is recorded at 22890334.
Staples, Inc. (Staples) is an office products company. Shares of SPLS traded higher by 2.46% or $0.355/share to $14.82. In the past year, the shares have traded as low as $10.70 and as high as $16.04. On average, 10456500 shares of SPLS exchange hands on a given day and today's volume is recorded at 27436664.
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