The LocateStock.com HIGH FIVE for Thursday, August 9th are:
4 – IndyMac Bancorp – NYSE:IMB
3 – Heelys, Inc – NASDAQ:HLYS
2 – Mueller Water Products – NYSE:MWA
1 – Delta Financial Corp. – NASDAQ:DFC
* Accredited Home has been plunging in recent weeks after the company said it was getting margin calls -- requiring the company to put up additional cash or collateral in exchange for the funding -- the lender warned that it may not be able to survive as a going concern. LEND shares lost 76 cents or 11.18% on the NASDAQ on Wednesday, 8/8.
IndyMac Bancorp, Inc. (NYSE:IMB) operates as the holding company for IndyMac Bank, F.S.B., a thrift/mortgage bank, which provides mortgage products and services in the United States. The company operates in two segments, Mortgage Banking and Thrift. The Mortgage Banking segment offers adjustable-rate mortgages (ARMs), intermediate term fixed-rate loans, pay option ARMs, fixed-rate mortgages, conforming and non-conforming loans, construction-to-permanent loans, subprime mortgages, home equity lines of credits, and reverse mortgages.
* On Tuesday, 8/7 Roth Capital raised Indymac’s rating to hold from sell on valuation, boosting shares by as much as 13% and on the NYSE on Tuesday. The following day, IndyMac continued its rally to $22.43 after gaining $1.04 or 4.86% in the session Wednesday.
Heelys, Inc. (NASDAQ:HLYS) engages in the design, marketing, and distribution of action sports-inspired products for 14 year-old boys and girls. It offers its products under the HEELYS brand name. The company's primary product, HEELYS-wheeled footwear is a dual-purpose footwear product that incorporates a stealth and removable wheel in the heel.
* Shares of Heelys tumbled nearly 50% in Wednesday trading after giving a dismal forecast for the year and as four analysts cut their ratings on the wheeled-shoe company. The downgrades, which came in the wake of quarterly results released late Tuesday, cited weak forecasts for the year, bloated inventories, weak retail trends and an uncertain back-to-school season for the new ratings. Second-quarter net income rose to $12.8 million, or 45 cents a share, from $4.19 million, or 17 cents a share, during the year-earlier period. Revenue for the three months ended June 30 rose to $74.3 million from $30.9 million. HLYS plunged $10.57 or 48.07% to $11.42 on Wednesday.
Mueller Water Products, Inc. (NYSE:MWA) manufactures and sells various water infrastructure and flow control products for use in water distribution networks, water and wastewater treatment facilities, and gas distribution and piping systems in the United States and Canada. It has three segments:
* On Tuesday, 8/7 an analyst from Banc of America gave Mueller Water “four stars” based on the company’s accuracy of earnings estimates. Shares of MWA gained 21 cents or 1.45% trading on Wednesday on the NYSE on the new star analyst rankings.
Delta Financial Corporation, (NSADAQ:DFC) together with its subsidiaries, operates as a specialty consumer finance company that engages in the origination, securitization, and sale of nonconforming mortgage loans to individuals in the United States. The company's loan products are primarily fixed rate and secured by first mortgages on one-to-four-family residential properties.
* Delta Financial gave up a third of their value, or 40.25% after the mortgage lender announced on its Web site that it has delayed its second-quarter earnings release. The Woodbury, N.Y., firm issued no press release and gave no further explanation. Shares slumped $3.20 to $4.75.
The daily HIGH FIVE stocks are determined by the company’s proprietary, internal algorithmic calculators. The result is five securities that are the most sought after to borrow, and have proven to be the hottest stocks to short that day.
LocateStock.com is the premier electronic securities lending company providing revolutionary, real-time, hard-to-borrow stock locates and market data to hedge funds and professional traders seeking an efficient and private way to borrow stock associated with short sales. The Company recently launched LocateStock TV, a daily financial news show that highlights stock inventory that is available for short sellers to legally borrow and stay in compliance with Regulation SHO.
For an in-depth market analysis on each individual, hard to borrow stock, tune in daily to LocateStock TV, on http://www.locatestock.com/pressrelease.html
CONTACT: pressrelease@locatestock.com / 201-332-6800
SOURCE: Locate Stock, Inc.
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