Short Sellers Cast a Wide Net (ACI, XCO, SD, FST, XOM, DUK, AMD, SNY, PFE, NOK, BKS, SVU, PBI, DV, BPI)
Arch Coal Inc. (NYSE: ACI) saw a gain of 18.7% in short interest as of for the two weeks ended April 30th. More than 6.6 million shares were added to short interest and 20% of the company’s float is now short. The coal miner’s poor earnings and forecast are to blame.
Short interest in Exco Resources Inc. (NYSE: XCO) rose nearly 12% to more than 33.5 million shares, or 19.3% of the company’s float. The oil & gas driller missed revenue expectations, although it did post a profit. Revenue is more important now however.
Among the largest overall short positions, SandRidge Energy Co. (NYSE: SD) got short interest on 49.5 million shares, nearly 12% of its float and up 6.7% from the previous reporting period. Shares are down more than -33% in the past 12 months, and the small spikes don’t affect short sellers here. The long-term outlook for natural gas continues to call for weak pricing.
E&P company Forest Oil Co. (NYSE: FST) was another recipient of more short interest in late April. Short sellers added about 3 million shares, a 24.7% increase and enough to put nearly 13% of the company’s float short.
Even Exxon Mobil Corp. (NYSE: XOM) didn’t escape. Short sellers added 7.7 million shares to their positions, a 31.8% change to 32 million shares, but still less than 1% of Exxon’s shorts.
The final energy company we’ll look at here is Duke Energy Corp. (NYSE: DUK), where 5.8 million additional shares were added to short positions, bringing total shorts to just over 79 million shares. That’s an addition of 8% and represents 5.9% of Duke’s float. It’s odd to see a utility on this list.
Advanced Micro Devices Inc. (NYSE: AMD)saw short interest in its share rise by 6.5% to more than 70 million shares or 11.9% of the company’s float. AMD continues to suffer from lower-than-expected earnings and revenues.
Short interest in Sanofi (NYSE: SNY) jumped 265% to more 13.4 million shares. While still only about 0.5% of the company’s float, but generic drug sales are hurting the company as is a weak economy in Europe. Neither condition is expected to improve soon either.
Short interest in Pfizer Inc. (NYSE: PFE) also rose sharply, buy 21.4% to reach a total of 63.6 million shares, about 0.8% of the company’s float. Like Sanofi, competition from generics hurts. The company also said it will reduce marketing expenditures on its Lipitor drug.
Nokia Corp. (NYSE: NOK) gets the honor for being the equity with the largest number of short shares, 195 million, which represents 5.2% of the company’s float. The good news is that short interest fell by more than 32 million shares, also the largest change.
More than 75% of Barnes & Noble Inc.’s (NYSE: BKS) float is short, about 19.8 million shares. Short interest in the company grew by just 700,000 shares since mid-April.
Short interest holds more than 42% of grocer SuperValue Inc.’s (NYSE: SVU) shares with a total of 88.5 million shares short, up slightly from two weeks ago.
Short interest in Pitney Bowes Inc. (NYSE: PBI) actually fell slightly , but the company’s total of 50.5 million shares short represents 25.3% of the float and 22 days to cover.
Short interest in for-profit educator DeVry Inc. (NYSE: DV) jumped 123.2% to 3.7 million shares or 6.3% of the company’s float. Another education company, Bridgepoint Education Inc. (NYSE: BPI) posts short interest of more than 9.7 million shares, or 56% of its float.