Short Stocks: Bets build against Dell, Palm, THQ
NEW YORK, Nov 9 (Reuters) - Short interest on the Nasdaq rose 1.4 percent in late October, the exchange said on Friday, suggesting a slight increase in bearish sentiment in the stock market.
The following stocks saw increased interest from short sellers, who bet that a certain stock's price will fall. The data reflect short trades with a settlement date of Oct. 31.
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DELL INC (DELL.O: Quote, Profile, Research, Stock Buzz)
Short interest in shares of the computer maker rose more than 38 percent from mid-October to late October.
The company recently restated financial results from fiscal 2003 through the fiscal first quarter of 2007, reducing reported net income by a total of $92 million.
Short interest in the company was at about 37.54 million shares, or 1.6 percent of its shares outstanding.
PALM INC (PALM.O: Quote, Profile, Research, Stock Buzz)
Short interest in shares of the smart-phone maker rose nearly 24 percent from mid-October to late October
Analysts at Bear Stearns cut their investment rating on the stock on valuation last month, saying it faces several near-term challenges as a device-only company.
Short interest in the company was about 25.67 million shares, or 24.5 percent of its shares outstanding.
THQ INC (THQI.O: Quote, Profile, Research, Stock Buzz)
Short interest in shares of the video game publisher jumped more than 37 percent from mid-October to late October.
The company posted a third-quarter loss last week, as expected, after warning it expected disappointing sales of some titles.
About 8.51 million of the company's shares were held short, or 12.7 percent of its shares outstanding.
POPULAR INC (BPOP.O: Quote, Profile, Research, Stock Buzz)
Short interest in shares of the parent of Banco Popular and Puerto Rico's largest bank, rose almost 43 percent in the latest reporting period.
The company said last month third-quarter profit fell 56 percent, hurt by the U.S. housing downturn and a weak Puerto Rican economy. The company is also evaluating strategic alternatives for all its non-core businesses, Popular's chief executive said last month.
About 15.59 million shares of the company were held short, or 5.6 percent of its shares outstanding.
E*TRADE FINANCIAL CORP (ETFC.O: Quote, Profile, Research, Stock Buzz)
Short interest increased nearly 17 percent in shares of the online brokerage.
The company said on Friday it has seen continued declines in the fair value of its $3 billion asset-backed securities portfolio and withdrew its 2007 profit forecast.
About 29.56 million shares were held short, or 7 percent of its shares outstanding.
HAIN CELESTIAL GROUP INC (HAIN.O: Quote, Profile, Research, Stock Buzz)
Short interest increased more than 58 percent in shares of the food maker.
In September, U.S. health regulators disclosed that they had warned the company about a potentially unsafe herb in some of its teas. The company has also delayed filing its annual report with regulators pending a review of its stock option practices. Analysts at UBS cut their investment rating on the stock last month.
About 5.7 million of its shares were held short, or more than 14 percent of its shares outstanding.
SHARPER IMAGE CORP SHRP.O
Sort interest increased more than 15 percent in shares of the gadget retailer.
The company said same-store sales fell 21 percent in September, and decreased by 8 percent in October. A federal court also denied approval for a settlement in a class-action lawsuit related to its Ionic Breeze air purifiers last month.
About 4.36 million of the company's shares were held short, or 28.8 percent of its shares outstanding. (Reporting by Emily Chasan; Editing by Braden Reddall)
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