Stock Watch: AOL Deal Carries Office Depot

Shares of Office Depot were up 1-7/8 to 23-5/8 in early trading today after the office-products company announced a one-year marketing deal with America Online (NYSE: AOL).

Office Depot will now be promoted to more than 3.5 million small and home-based business people who use AOL and the AOL-owned Compuserve service.

It’s hard to gauge how this deal will pay off for Office Depot, especially because we don’t know how much the company is paying America Online. The deal should be good for a nice run-up today, but the stock is already near its 52-week high of 26, and might not have much more room to climb.

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