Short Stocks: Bets continue to build against some financials 09/10 08:51 PM
NEW YORK, Sept 10 (Reuters) - Short interest increased for
some financial stocks in late August, according to reports
released on Wednesday by the New York Stock Exchange and the
Nasdaq.
The following stocks, including financial stocks and
others, 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 Aug. 29, 2008.
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WASHINGTON MUTUAL (WM:$2.09,00$-0.23,00-9.91%)
Short interest rose 12.93 percent in Washington Mutual (WM:$2.09,00$-0.23,00-9.91%) .
This week, the bank replaced its chief executive and was put
under special regulatory supervision, after major losses from
mortgages.
About 382.4 million of Washington Mutual's (WM:$2.09,00$-0.23,00-9.91%) shares were held
short, or 22.4 percent of its total shares outstanding.
FREDDIE MAC (FRE:$0.625,0$-0.035,0-5.30%) FANNIE MAE (FNM:$0.6999,$-0.0401,-5.42%)
Short interest rose 33.6 percent in Freddie Mac (FRE:$0.625,0$-0.035,0-5.30%) , and 29.21
percent in Fannie Mae (FNM:$0.6999,$-0.0401,-5.42%) .
Both government sponsored enterprises were taken over this
week by the U.S. Treasury.
About 158.5 million of Freddie Mac's (FRE:$0.625,0$-0.035,0-5.30%) shares were held
short, or 24.5 percent of its total shares outstanding, while
about 182.7 million of Fannie Mae's (FNM:$0.6999,$-0.0401,-5.42%) shares were held short, or
17 percent of its total shares outstanding.
THORNBURG MORTGAGE INC (TMA:$0.3931,$-0.0269,-6.40%)
Short interest rose 54.68 percent in Thornburg Mortgage (TMA:$0.3931,$-0.0269,-6.40%) .
In late August, the specialist in large home loans said its
survival remained in doubt following additional margin calls,
but was on track to complete a restructuring and avoid
collapse. Early on Tuesday Thornburg announce a further
extension of an exchange offer.
About 33 million shares of Thornburg Mortgage (TMA:$0.3931,$-0.0269,-6.40%) were held
short, or 8.5 percent of its total shares outstanding.
TIME WARNER INC (TWX:$14.505,0$-0.345,0-2.32%)
Short interest rose 25.2 percent in Time Warner (TWX:$14.505,0$-0.345,0-2.32%) .
Time Warner (TWX:$14.505,0$-0.345,0-2.32%) said on Wednesday it sees advertising softening
for AOL (TWX:$14.505,0$-0.345,0-2.32%) and its publishing business, but remaining strong on
its cable unit.
About 56 million shares of Time Warner (TWX:$14.505,0$-0.345,0-2.32%) were held short, or
1.6 percent of its total shares outstanding.
IAC/INTERACTIVECORP (IACID:$16.81,00$-0.30,00-1.75%)
Short interest rose 84.03 percent in IAC/InterActiveCorp (IACID:$16.81,00$-0.30,00-1.75%) .
In late August, Bernstein cut the company's stock price
target to $20 from $25. On August 21, it completed its split
into five publicly-traded companies.
About 5.7 million shares of IAC/InterActiveCorp (IACID:$16.81,00$-0.30,00-1.75%) were held
short, or 4 percent of its total shares outstanding.
NVIDIA CORP (NVDA:$10.40,00$-0.42,00-3.88%)
Short interest in Nvidia rose 109.78 percent.
The graphics chip maker posted revenue that fell short of
expectations in August and is facing intense competition from
rivals Advanced Micro Devices Inc (AMD:$5.76,00$-0.02,00-0.35%) and Intel Corp (INTC:$19.98,00$-0.18,00-0.89%) .
About 47.2 million shares of Nvidia were held short, or 8.5
percent of its total shares outstanding.
INFOSYS TECHNOLOGIES LTD (INFY:$37.94,00$-1.25,00-3.19%)
Short interest in Infosys rose 32 percent.
India's second-largest software services exporter last
month agreed to buy Britain'sAxon Group (AXNGF:$10.9500,$0.0000,0.00%) <AXO.L>
About 15 million shares of Infosys were held short, or 2.7
percent of its total shares outstanding.
TEMPUR-PEDIC INTERNATIONAL INC (TPX:$11.9200,$-0.5800,-4.64%)
Short interest in Tempur-Pedic International Inc rose 30.78
percent.
The mattress maker and its competitors have been struggling
with softer sales as cash-strapped customers cut down on
big-ticket items.
About 44.4 million shares of Tempur-Pedic were held short,
or 59.4 percent of its total shares outstanding.
ANADARKO PETROLEUM CORP (APC:$55.3900,$0.5600,1.02%)
Short interest in Anadarko rose 85.43 percent.
Anadarko, which has a capacity to produce 150,000 barrels
of oil equivalent per day from its Gulf of Mexico facilities,
said this week it expects to shut all of its oil and natural
gas production there in advance of Hurricane Ike.
About 16 million shares of Anadarko were held short, or 3.4
percent of its total shares outstanding.
(Reporting by Phil Wahba; editing by Carol Bishopric)
