Office Depot, Inc. (ODP), whose colleagues include OfficeMax Incorporated (OMX) and Staples, Inc. (SPLS), was off by 1.4% at the time of this writing in afternoon trading. That put the share price below the $7 level. The stock is also well below the 52-week high of $9.19. What do the technical and fundamental factors tell us about the potential of this investment idea?

They're not telling us comforting things, in my opinion. The one-year chart doesn't look too bad. Like many other one-year charts, it shows a company that wants to head higher, albeit in a choppy way.

Here are some highlights from this past week's earnings coverage on BloggingStocks:

• Berkshire Hathaway Inc. (BRK.A) announced improved results year over year, with book value up nearly 20%.
• BJ's Wholesale Club Inc. (BJ) Q4 earnings were in line with expectations but guidance for the year fell short.
• Cbeyond Inc. (CBEY) received an analyst's downgrade and lowered price target following its Q4 results.
• Costco Wholesale Corp. (COST) strong Q2 results fell short of analysts' estimates and shares declined.
• Dress Barn Inc. (DBRN) said it swung to a profit in Q2 and same-store sales increased, and it raised its outlook.

Today was probably more about international market news more than the domestic news. Outside of February auto sales, we had very little economic data to absorb. The markets spent most of the day much higher, but profit taking and positions being lightened up seemed to take out the steam and the actual closing bell levels. A red or black day was not clear until the last few minutes. Here were today's unofficial closing bell levels:

DJIA: 10,405.98 (+0.02%)
S&P500: 1,118.31 (+0.23%)
NASDAQ: 2,280.79 (+0.32%)

CombinatoRx, Incorporated (CRXX) soared by 32% to $1.47 today after its Exalgo opioid painkiller received FDA approval.

A stronger-than-expected rise in fourth-quarter revenue from Staples Inc. (SPLS) was not enough to offset lower earnings, due to charges related to lawsuits and restructurings, in the eyes of investors.

The office products retailer said Tuesday that its net income for the quarter came to $233.9 million, down from $286 million a year ago. Adjusted earnings per share of $0.38 missed the consensus estimate of analysts polled by Thomson Reuters by a penny.

U.S. stock futures advanced Tuesday morning, pointing to a second day of gains as signs of progress in the Greek debt crisis helped stabilize European markets. Meanwhile, merger activity continued as investors awaited what is likely to be a disappointing month for U.S. car sales.

Merger Monday helped lift Wall Street as deal news had the Nasdaq and S&P 500 gaining over 1%, putting both back in the black for the year. The Dow industrials, although adding 0.8% Monday, is still down 0.2% in 2010.

Here are some highlights from this past week's earnings coverage on BloggingStocks:

• Aeropostale Inc. (ARO) strong Q3 results topped analysts expectations, and it offered Q4 earnings guidance.
• Cascade Corp. (CASC) reported a surprise Q3 profit but lower revenue fell short of expectations.
• Collective Brands Inc. (PSS) reported strong Q3 earnings as well as same-store sales growth.
• Cost Plus Inc. (CPWM) narrowed its net loss in Q3 but revenue and same-stores sales declined.
• Del Monte Foods Co. (DLM) posted strong Q2 results and raised its earnings outlook for the full year.
• Diamond Foods Inc. (DMND) posted better-than-expected Q1 earnings, but said that revenue declined.

Staples (SPLS) issued Q3 results early this morning, and the market loved them. In afternoon trading, the stock was bid higher by over 6%, with awesome volume backing the trade.

According to the press release, total sales decreased 6%. Earnings per diluted share declined as well, dropping 7% on an adjusted basis to 39 cents. That was good enough, though, to beat expectations by a penny, as indicated by our preview piece.

Staples Inc. (SPLS), whose website had trouble keeping up with the crush of Black Friday traffic, is scheduled to discuss its third quarter 2009 financial results in a conference call Tuesday, December 1, at 8:00 AM ET. You can catch the live webcast of the call on the company's website.

During the three months that ended in October, Staples executives sold shares and the company was named one of the world's 100 hardest working brands. Analysts surveyed by Thomson Reuters expect the world's biggest office supply superstore operator to report that earnings for that period fell 9.5% from a year ago to $0.38 per share. Revenue for the quarter is expected to be 7.3% lower to $6.5 billion.

All three of the major indexes finished Tuesday in the red, but there were several big names that moved up to new 52-week highs in Tuesday's trading.

Walgreen Co. (NYSE: WAG): The drugstore giant had a really good day on Wall Street after posting better than expected earnings in the morning before the market opened. The company posted earnings of 44 cents per share versus analyst estimates of 39 cents. The stock set a new 52-week high of $38.44 and closed the day up 9.2% at $37.35.

Here are some highlights from last week's earnings coverage from BloggingStocks:

• American Eagle Outfitters Inc. (NYSE: AEO) Q2 profit fell short of estimates as same-store sales declined.
• Ann Taylor Stores Corp. (NYSE: ANN) Q2 earnings beat very low expectations and same-store sales fell.
• Big Lots Inc. (NYSE: BIG) reported better-than-expected numbers for Q2, sending shares upward.
• Burger King Holdings Inc. (NYSE: BKC) posted a better-than-expected Q4 profit though revenue declined.
• China Petroleum & Chemical Corp. posted a record Q2 profit after restrictions on fuel prices were lifted.
• Dell Inc. (NASDAQ: DELL) said its Q2 earnings declined, but they still topped analysts' expectations.

Staples (NASDAQ: SPLS), a seller of office supplies and a competitor of chains such as Office Depot (NYSE: ODP), OfficeMax (NYSE: OMX), and Wal-Mart (NYSE: WMT), reported Q2 earnings on Tuesday. Although they weren't that great, I can't say I felt they were a total disaster, either. I think the quarter was lackluster and indicative of the immense work ahead for management in terms of getting people into their stores and increasing sales per transaction.

According to the press release, total sales increased 9% and adjusted earnings per share declined 24% to 16 cents. That's a steep drop, but they did match analyst expectations. Staples used the increase it saw in free cash flow in a smart way: debt reduction. I approve of that move, to be sure.

As the current advertising campaign from Staples Inc. (NASDAQ: SPLS) makes clear, the nation's largest office supply store operator is hoping for what so many retailers (aside perhaps from those participating in the cash for clunkers program) are hoping for: a boost from back-to-school sales. Unfortunately, any such sales won't affect the second quarter results that Staples is scheduled to report tomorrow morning before the market opens. Those results will include July, though, when retail sales were disappointing all around.

Staples is scheduled to discuss its second quarter 2009 results tomorrow morning in a conference call at 8:00 AM ET. You can catch the live webcast of the call on the company's website.

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• American Eagle Outfitters Inc. (NYSE: AEO) reported better-than-expected Q1 earnings, lifting shares.
• AutoZone Inc. (NYSE: AZO) posted a better-than-expected Q3 profit said it will continue to buy back shares.
• Bank of Montreal (NYSE: BMO) reported lower Q2 earnings and also announced 1,100 layoffs.
• Big Lots Inc. (NYSE: BIG) higher Q1 earnings topped estimates even though same-store sales fell.
• BioMed Realty Trust Inc. (NYSE: BMR) earnings prospects after the recent capital raise led to a downgrade.

Staples (NASDAQ: SPLS) issued its Q1 report on Wednesday. Call me unimpressed. It beat earnings estimates by a penny, coming in at 22 cents on an adjusted basis. Sure, that's what investors want to see. They want the bottom line to go beyond expectations.

But there isn't a lot of excitement to be had with the Staples story. According to the press release, that 22-cent figure represented a decline of 27% in per-share profit. Furthermore, there's weakness in terms of same-store sales. In the North American market, comps dipped 8%. On the international front, comps went down by 14% in Europe.

I recently attended a Lakers' basketball playoff game and took notice of the fact that Toyota Motor Corp. (NYSE: TM) was a major sponsor advertising at Staples Staples Inc (NASDAQ: SPLS) Center. This, while our home grown car companies are all on the verge of collapse.

As we write stories on the depressed economy readers frequently comment about "buying American" as a theme that will help the greater good by keeping jobs and money in the United States.

This patriotic notion got me thinking about what would happen if we carried it further? Would we stop advertising and promotion of foreign products? Would we restrict discussion of foreign products in the media all together? Would we limit the production of foreign products here, even if they are providing jobs for Americans?