Short Stocks: Bets build against Bristol Myers, Dell, Palm
NEW YORK, Dec 9 (Reuters) - Short interest rose slightly on the New York Stock Exchange and edged lower on the Nasdaq in the second half of November, data from both exchanges showed on Wednesday.
The following list shows stocks that saw increased interest from short sellers, who bet that a certain stock's price will fall, and key recent news events for those stocks. The data reflect short trades with a settlement date of Nov. 30.
For factboxes on short interest see [ID:nN09177947] and [ID:nN09152470].
BRISTOL-MYERS SQUIBB (BMY.N)
Short interest in the company rose 141.2 percent.
AstraZeneca Plc's (AZN.L) experimental Brilinta blood clot preventer began working much faster than widely-used Plavix and the intended effect wore off more quickly, according to data from a mid-stage study presented on Nov. 18. Plavix is the standard of care with annual sales of about $9 billion for Bristol-Myers Squibb Co and Sanofi-Aventis SA (SASY.PA).
About 48.4 million of the company's shares were held short.
SYNOVUS FIN CORP (SNV.N)
Short interest in the company rose 53.1 percent.
On Nov. 23, brokerage Collins Stewart cut its price target on Synovus by 69 percent and said the company needs about $700 million in additional capital.
About 40.4 million of the company's shares were held short.
DELL INC (DELL.O)
Short interest in the company rose 34.7 percent.
Dell's quarterly profit plunged 54 percent on lower-than-expected sales as it lost market share to competitors, the company reported on Nov. 19.
About 51 million of the company's shares were held short.
PALM INC PALM.O
Short interest rose 18.5 percent.
Palm shares rose 8.3 percent to $12.40 on Nov. 13 as takeover speculation resurfaced, but mostly fell the rest of the month to close at $10.91 on Nov. 30.
About 56.5 million of the company's shares were held short.
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