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Total Companies: (45) Stock Center View

Symbol Price EPS
IMGN -0.05 06:30 am ET
CNX 0.20 06:45 am ET
IR 0.70 07:00 am ET
XRX 0.29 07:00 am ET
CHFN N/A After Mkt
CSC 1.12 After Mkt
FISI N/A After Mkt
TLMR 0.17 After Mkt
ABBV 0.86 Before Mkt
BBGI N/A Before Mkt
BEN 0.93 Before Mkt
BERY 0.26 Before Mkt
BZH -0.12 Before Mkt
CPLP 0.09 Before Mkt
CVX 1.63 Before Mkt
GHM 0.32 Before Mkt
HAFC 0.34 Before Mkt
IDXX 0.80 Before Mkt
INGR 1.51 Before Mkt
JOUT -0.32 Before Mkt
KCG N/A Before Mkt
LEA 2.07 Before Mkt
LLY 0.74 Before Mkt
LM 0.67 Before Mkt
MA 0.67 Before Mkt
MAN 1.43 Before Mkt
MAT N/A Before Mkt
MO 0.67 Before Mkt
MOSY -0.16 Before Mkt
NS 0.53 Before Mkt
NSH 0.38 Before Mkt
NWL 0.48 Before Mkt
OFG 0.35 Before Mkt
PFS 0.34 Before Mkt
POPE N/A Before Mkt
PSTB 0.09 Before Mkt
SAIA 0.45 Before Mkt
SPG 2.47 Before Mkt
TSN 0.73 Before Mkt
TYC 0.49 Before Mkt
UBSI N/A Before Mkt
WTBA 0.31 Before Mkt
WY 0.29 Before Mkt
EDS N/A Unknown
GAME N/A Unknown

Highest Discount Preferred Stocks Highlights

Symbol Name Last Change Volume Premium/
NBG-PA National Bank of Greece S.A., $2.25 Non-cumulative Preference Shares, Series A 9.91 -0.03 (-0.30%) 54,465 -60.36% 22.70%
HOVNP Hovnanian Enterprises, 7.625% Depositary Shares Series A Preferred Stock 14.85 0.14 (0.95%) 6,896 -40.60% Suspended
SPPRO SuperTel Hospitality Inc., 10.0% Series B Cumulative Preferred Stock 15.50 0.00 (0.00%) 756 -38.00% 16.13%
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Shutterfly - Trying to Fly with Broken Wings

Posted on 2011-12-08 by Daniel Ho

Broken WingsWhen we wrote the last article on Shutterfly (NASDAQ: SFLY), its stock just got whacked by news that Apple (NASDAQ: AAPL) unrolled its Cards app for iPhone 4S, which allows users to take pictures and then send out physical picture cards to their families and friends. The stock recovered mightily at the end of that date, showing a great hammer pattern, and then proceeded to rise from $40/share to almost $50/share in the next three weeks. It again illustrated how difficult it is to short stocks, although we did add a little more shorting during that time.

When we first started shorting Shutterfly, we started around the mid-fifies. At that time, the street still had high hopes on SFLY, but a great numbers of insiders were already unloading their shares. Started wIth a slightly disappoint earnings report in July, investors were still hoping that the company would do well going into Christmas season. That's also when the Apple news hit in early October but then the stock rose again. However, once the Q3 earnings was in, investors noticed that they had placed too much hope in the company just because it has the keywords 'technology' and 'retail' in its business. The stock was all downhill from there.

The stock took another big hit on November 30th when it mentioned that its margin was squeezed by other online photo retailers' agressive price cut such as HP's (NYSE: HPQ) Snapfish. Subsequently, the stock is now trading at $27.81/share.

With 2011 coming to a close, we believe that fund managers will put selling pressure on SFLY, as they sell losers and buy winners for year end window dressing. However, the big shorting opportunity for SFLY has passed, and although we may short more SFLY for its technical weakness, we will also keep a tighter stop in case the stock is poised for a rebound.

This article originally appears on

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