The stock market is getting yet another huge bounce today and the gain in the DJIA currently is up 377 points at 11,097 and change… The NASDAQ is up literally almost 100 points at 2,480.50. Even on bad days some stocks win, and on some great days there are almost always some big losers. Thursday’s stocks that have missed out on the big rally are as follows:
Bluefly Inc. (NASDAQ: BFLY) tanked after earnings and volume is explosive at more than 7-times normal trading. Oddly, that ‘explosive volume’ is only 24,408 shares…. This one is down almost 16% at $1.65… A Soros stock!
Briggs & Stratton Corporation (NYSE: BGG) is down over 13% at $12.99 on more than 4.5 million shares after the company’s earnings turned into losses. So much for air cooled gasoline engines for outdoor power equipment worldwide.
The Central Fund of Canada Limited (AMEX: CEF) is a closed-end commodity fund that invests in commodities. You rarely see this sort of move, but the fund is down 4.6% at $23.36. The fund’s site says that it is “The Sound Monetary Fund” and its purpose is “to hold gold and silver bullion on a secure basis for the convenience of investors in the shares of Central Fund.” When stocks rally as gold and silver tank, adios Mr. Morose.
Cogo Group, Inc. (NASDAQ: COGO) is down like it sells the next dangerous Pogo-stick. This is after filing its quarterly report yesterday with the SEC after last week’s earnings. Shares are down 10% at $2.49 on double the normal volume already as 1.13 million shares have traded hands.
Learning Tree International Inc. (NASDAQ: LTRE) is apparently called the Idiot Tree because higher costs hurt earnings. This one is down almost 15% at $8.06, but the volume is puny at not even 13,000 shares in mind-day trading.
LodgeNet Interactive Corporation (NASDAQ: LNET) gave back its gains from yesterday that were on the heels of its extension with Starwood. Shares are down 10.5% at $1.995 on almost 200,000 shares.
Niska Gas Storage Partners LLC (NYSE: NKA) was absolutely pounded after earnings. The natural gas storage assets partnership is down 18.5% at $11.96 and shares hit a 52-week low of $10.95 today.
Open Text Corp. (NASDAQ: OTEX) is facing a closed-book apparently. The enterprise content management solutions provider missed earnings expectations after the close yesterday and the stock is down 9.3% at $52.14 on 13-times normal volume as the 52-week range is $36.11 to $72.32.
OXiGENE, Inc. (NASDAQ: OXGN) is taking it on the chin with a 10.6% drop to $1.43 on more than 400,000 shares. Last night it reported a net loss for the quarter of $2.9 million versus net income of $2.5 million for the same three-month period of 2010.
Seven Arts Pictures PLC (NASDAQ: SAPX) is one of the worst performers and it has been a very volatile low-priced stock that has been popular with day traders and chat rooms. Shares are down about 16% at $0.85 on about 1 million shares.
Silver Wheaton Corp. (NYSE: SLW) is down marginally as silver and gold have been whacked hard. This one is leveraged per traders with silver and shares are down 0.3% at $36.69 versus a 52-week range of $19.06 to $47.60. By the way, the AMEX-listed ‘losers’ list is littered with speculative miners but this one is not as speculative as others.
SodaStream International Ltd. (NASDAQ: SODA) has been pounded after earnings and shares are down a whopping 33% at $45.50… So much for the great growth opportunity! Is this the next Sharper Image debacle?
JON C. OGG