Staples is exploring a sale to private equity, according to the WSJ. This comes after U.S. regulators effectively blocked the office retailer from acquiring rival Office Depot.

Why it's a big deal: For all of its problems, Staples remains a $6 billion company and the go-to physical source for office supplies.

Bull case: Staples stock over the past six months hasn't been this cheap since 1998. Even the takeover report couldn't push it past $10 per share.

Bear case: There are a lot of good reasons why Staples stock hasn't been this cheap since 1998, including online cannibalization (read: Amazon) and declining performance. Plus, private equity isn't exactly known to be clamoring right now for big box retailers. In other words, this reads a bit like Staples (now under a new CEO) seeking a buyer via the press.

Bottom line: "After the [Office Depot] deal collapsed, Staples said it would cut costs and redouble efforts to win more business from midsize companies. But the turnaround strategy, dubbed Staples 20/20, hasn't yielded significant gains yet." ― WSJ

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Biden campaign raises $26 million in 24 hours after announcing Harris as running mate

Joe Biden and Kamala Harris. Photo: Olivier Douliery/AFP via Getty Images

Joe Biden's campaign announced on Wednesday that it raised $26 million in the 24 hours after revealing Sen. Kamala Harris as his vice presidential pick.

Why it matters: The cash influx signals that Harris has helped the Democratic presidential campaign pick up steam. Nearly 150,000 contributors were first-time donors, according to the campaign statement.

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Illustration: Annelise Capossela/Axios

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Harris previews dual role in debut speech: Attacking Trump and humanizing Biden

Sen. Kamala Harris began her first speech as Joe Biden's running mate excoriating President Trump for his "mismanagement" of the coronavirus and scorn for the racial justice movement, before quickly pivoting to how she came to know Biden: through her friendship with his late son Beau.

Why it matters: The debut speech on Wednesday underscored the dual roles that Harris will take on for the rest of the campaign — humanizing Biden during a moment of national crisis and "prosecuting" the case against Trump as a failed president.