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ACCO Brands (ABD): Office products maker gains 17%

Posted Aug 6th 2007 4:17PM by Kelly Wu (RSS feed)
Filed under: Major Movement

Shares of ACCO Brands Corp. (NYSE: ABD) closed $3.50 higher Monday after announcing strong sales and earnings. The nearly 17% rise -- among the NYSE's top performances Monday -- put ACCO shares at $24.25.

ACCO makes branded office supplies for resale, suppling to retail superstores, wholesale office suppliers and mail order catalogs. ACCO's products are sold under the brands
Day-Timer, Swingline, Kensington, Quartet, GBC, Rexel and Wilson Jones.

ACCO Brands' second-quarter report states earnings of $4.5 million, or 8 cents per share, a turnaround from last year's second-quarter loss of $9.8 million, or 18 cents per share.