Monday, June 23, 2008
LocateStock.com Daily High Five For Monday June 23, 2008

Jersey City, NJJune 23, 2008

The LocateStock.com HIGH FIVE for Monday, June 23rd are:


5 – Interoil Corp. – AMEX:IOC

4 – Lehman Brothers – NYSE:LEH

3 – Blockbuster – NYSE:BBI

2 – Standard Pacific – NYSE:SPF

1 – Coeur d'Alene Mines – NYSE:CDE

Interoil Corporation, (AMEX:IOC) together with its subsidiaries, engages in the exploration and production of oil and gas properties in Papua New Guinea. It owns four exploration licenses and two retention licenses in Papua New Guinea covering approximately nine million acres; and a 15% working interest in petroleum prospecting license 244 located offshore in the Gulf of Papua; a 43.13% working interest in petroleum retention license 4; and a 28.576% working interest in petroleum retention license 5.

* According to Forbes, the American Stock Exchange is giving no reason to support Interoil's spike last Thursday when its stock jumped more than 30%. Then on Friday Interoil announced what sounded like a moderately positive development, the sale of a couple of energy properties in Papua New Guinea for $6.5 million. Shares of IOC plummeted $8.29 or 19.92% to $33.33.

Lehman Brothers Holdings, Inc., (NYSE:LEH) through its subsidiaries, provides various financial services to corporations, governments and municipalities, institutions, and high-net-worth individuals worldwide. The company operates in three segments: Capital Markets, Investment Banking, and Investment Management.

* Lehman shares dropped on Friday after a Reuters report citing rumors that Merrill Lynch would preannounce that it would miss analyst estimates. However, a Merrill spokeswoman declined to comment on the rumors. Shares of LEH 26 cents or 1.06% to $24.20 and lost more than 11% on the week.

Blockbuster, Inc., (NYSE:BBI) together with its subsidiaries, operates and franchises entertainment-related stores in the United States and internationally. It offers pre-recorded videos, as well as video games for in-store rental, sale and trade, and also sells other entertainment-related merchandise.

* Circuit City Stores said Thursday its loss widened in the first quarter because of a more than 11% drop in sales at established stores. The electronics retailer also said it expects a bigger loss in the second quarter than analysts are expecting and said it is suspending its dividend to keep capital available for its turnaround efforts. The company had opened its books last month to Blockbuster to allow the video-rental chain to conduct due diligence in its takeover bid of just over $1 billion with plans for creating a huge chain that would sell electronic gadgets and rent movies and games. Shares of BBI plummeted 27 cents or 9.68% to $2.52 on Friday.

Standard Pacific Corp. (NYSE:SPF) engages in the construction and sale of single-family attached and detached homes in the United States. It also provides mortgage financing and title services to its homebuyers through its subsidiaries and joint ventures

* Standard Pacific joins the HIGH FIVE ahead of this week's housing data. The Department of Commerce reports data on new home sales for May, and the National Association of Realtors reports on existing home sales. Economists predict a decline in new home sales and a slight rise in existing home sales when data are released on Wednesday and Thursday, respectively. Shares of SPF lost 3 cents or .93% to $3.19 on Friday.

Coeur d'Alene Mines Corporation, (NYSE:CDE) through its subsidiaries, engages in the exploration and development of mineral properties principally in the United States, South America, Australia, and Africa. The company primarily explores for silver, gold, lead, and zinc deposits.

* Coeur d'Alene mines announced last Wednesday that it has poured the first gold at its new San Bartolome mine in Bolivia. The mine is expected to produce 6 million ounces of silver this year and 9 million ounces in 2009. Shares of CDE rose to gain 33 cents or 11.30% to $3.25 on Friday.


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. LocateStock TV is 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, LLC


2 Comments:

  • At June 25, 2008 1:28 PM , Anonymous Anonymous said...

    You are confusing me...
    Are your High Five expected to DIVE or are they expected to Fly??

     
  • At June 30, 2008 10:29 AM , Blogger LOCATESTOCK said...

    Anonymous, Locatestock.com is a software platform that gives short sellers liquidity on hard to borrow securities. The Daily High 5 is a free, market data tool, which highlights 5 of the most frequently requested securities over the platform from the previous days trading. We do not make recommendations, and provide the High 5 as free, market commentary. In an informal internal study we did last year, we tracked every stock that hit the High 5 from the day we first talked about it until year end 12/31/07. The results of that internal study showed that by years end 75% of the stocks that we highlighted were down from the closing price of the day we first spoke about them. So while there is education needed and you should discuss suitability with a professional before employing short selling as a strategy, typically the indication identified by the appearance on the Locatestock High 5 seems to be a Bearish indicator.

     

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