Market Summary

 

Earning Reports

Total Companies: (63) Stock Center View

Symbol Price EPS
Est.
Reporting
Time
ITT 0.60 07:00 am ET
SHEN 0.32 07:00 am ET
WETF 0.08 07:00 am ET
PNM 0.66 07:30 am ET
SPR 0.74 07:30 am ET
XOM 1.71 08:00 am ET
BAGL 0.22 After Mkt
CMRE 0.41 After Mkt
GCAP -0.01 After Mkt
MOVE 0.01 After Mkt
PRAA 1.11 After Mkt
RATE 0.16 After Mkt
SEB N/A After Mkt
ABBV 0.77 Before Mkt
AON 1.12 Before Mkt
AVIV 0.48 Before Mkt
AXL 0.62 Before Mkt
CBOE 0.55 Before Mkt
CIR 0.90 Before Mkt
CLX 1.03 Before Mkt
COB 0.15 Before Mkt
COL 1.27 Before Mkt
COMM 0.57 Before Mkt
CVX 2.55 Before Mkt
D 0.96 Before Mkt
DRC 0.63 Before Mkt
DRQ 1.30 Before Mkt
DW 0.74 Before Mkt
FLML -0.12 Before Mkt
GHC N/A Before Mkt
GPX N/A Before Mkt
GWR 1.17 Before Mkt
HLT 0.17 Before Mkt
HPY 0.65 Before Mkt
IMI -0.09 Before Mkt
IRT 0.15 Before Mkt
JOUT -0.02 Before Mkt
LM 0.00 Before Mkt
MGI 0.34 Before Mkt
MMP 0.66 Before Mkt
MSG 0.32 Before Mkt
NEE 1.55 Before Mkt
NS 0.60 Before Mkt
NSH 0.40 Before Mkt
NTLS 0.06 Before Mkt
NWL 0.55 Before Mkt
OSK 0.82 Before Mkt
PEGI 0.04 Before Mkt
PNW 2.15 Before Mkt
POM 0.45 Before Mkt
SNAK 0.12 Before Mkt
SXI 1.18 Before Mkt
TDS -0.07 Before Mkt
TE 0.32 Before Mkt
TYPE 0.27 Before Mkt
VTG 0.02 Before Mkt
VYFC 0.02 Before Mkt
WMK N/A Before Mkt
WY 0.30 Before Mkt
XLS 0.29 Before Mkt
DSX -0.07 Unknown
PCO N/A Unknown
WG 0.23 Unknown

Convertible Preferred Stocks Highlights

Symbol Name Last Change Volume Premium/
Discount
Est.
Yield
WFC-PL Wells Fargo & Co., 7.50% Non-Cumul Perp Conv Cl A Preferred Stock, Series L 1,204.00 -5.00 (-0.41%) 12,483 5.38% 6.23%
BAC-PL Bank of America, 7.25% Non-Cumulative Convertible Preferred Stock, Series L 1,144.50 0.00 (0.00%) 10,290 19.00% 6.33%
AES-PC AES Trust III, $3.375 Trust Convertible Preferred Securities 50.38 -0.33 (-0.65%) 7,291 0.42% 6.70%
← American Airlines Got Grounded Extreme Return Naked Put Options →

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 benzinga.com

← American Airlines Got Grounded Extreme Return Naked Put Options →

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