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WBS, JTX, JAZZ, HERO, OMX, KEY. Top Losing Stocks With Negative Price Friction In Morning Trade Today

^{Published on 2009-06-17 09:34:02, Last Modified on 2010-12-22 14:14:50 - WOPRAI}
 

June 17, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, announced today its proprietary Market Maker Friction Factor Report for June 17, 2009. Since late October market makers are now required to be on the bid as much as they are on the offer and for like amounts of stock. This fair market making requirement is designed to prevent market makers from manipulating stock prices. Here is a list of the top companies with the largest losses this morning and negative price friction (bearish). This means that there was more selling than buying in the stocks and their stock prices dropped faster with less Friction. Webster Financial (NYSE: WBS), Jackson Hewitt Tax Service (NYSE: JTX), Jazz Pharmaceuticals (NASDAQ: JAZZ), Hercules Offshore (NASDAQ: HERO), OfficeMax (NYSE: OMX) and KeyCorp (NYSE: KEY). To access Friction Factor, Naked Short Data and SqueezeTrigger Prices on all stocks please visit http://www.buyins.net .

Market Maker Friction Factor is shown in the chart below:

Symbol Change % BuyVol Buy% SellVol Sell% NetVol Friction

WBS -$0.68 -8.20% 23,437 21.48% 71,775 65.78% -48,338 -711

JTX -$0.58 -8.24% 16,229 30.64% 32,639 61.62% -16,410 -283

JAZZ -$0.48 -12.66% 194,264 40.74% 254,595 53.39% -60,331 -1,257

HERO -$0.47 -9.79% 220,519 36.10% 389,802 63.82% -169,283 -3,602

OMX -$0.46 -6.87% 35,843 40.68% 37,556 42.63% -1,713 -37

KEY -$0.45 -7.60% 1,087,354 30.05% 2,239,652 61.90% -1,152,298 -25,607

Click here to view chart:

Analysis of the Friction Factor chart above shows that each of the six stocks mentioned above have high net dollar losses (Change) and extremely low price friction in their stocks. The Friction Factor displays how many more shares of buying than selling are required to move a stock higher by one cent or how many more shares of selling than buying moves a stock lower by 1 cent.

For example, the chart above shows WBS with a dollar loss today of -$0.68 and a Friction Factor of -711 shares. That means that it only took 711 more shares of selling than buying to move WBS lower by one penny. This means the Market Makers are allowing the stock to drop quickly (low friction). The combination of low friction and negative market direction can drive prices lower faster than normal.

Webster Financial Corporation (NYSE: WBS) operates as the holding company for the Webster Bank that provides business and consumer banking, mortgage lending, financial planning, and trust and investment services to individuals, families, and businesses. It primarily engages in generating deposits and originating loans. The company�s deposit products include checking accounts, demand deposits, money market accounts, negotiable order of withdrawal accounts, savings accounts, brokered deposits, and certificate of deposit accounts. Its loan portfolio comprises residential mortgage loans; consumer loans, including home equity loans; commercial loans comprising commercial non-mortgage, asset-based loans, and equipment financing; and commercial real estate loans, including commercial real estate, commercial construction, and residential development loans. The company also offers cash management, wealth management, trust, financial planning, brokerage and investment advice, and insurance premium financing services. As of December 31, 2008, it operated through 181 banking offices and 489 automated teller machines in Connecticut, Massachusetts, Rhode Island, and New York. The company was founded in 1935 and is based in Waterbury, Connecticut.

Jackson Hewitt Tax Service, Inc. (NYSE: JTX) engages in the computerized preparation of federal, state, and local individual income tax returns in the United States. It also engages in the electronic filing of the customers� tax returns. The company offers its services through a network of franchised and company-owned tax offices operating under the Jackson Hewitt Tax Service brand name. In addition, it offers a range of financial products, such as refund anticipation loans, which are made by a third party financial institution to a customer and secured by a customer�s anticipated federal tax refund; assisted refunds that are provided by third party financial institutions, which offer customers with the ability to have their tax return preparation fees and other charges withheld directly from their tax refund; and gold guarantee, an extended warranty that a customer may purchase whereby the taxpayer may be reimbursed up to a set limit for any additional tax liability owed due to an error in the preparation of the customer�s tax return. Further, the company provides various disbursement options for financial products, including direct deposit, check, or on the ipower Card, a prepaid Visa card. As of April 30, 2008, its network comprised 5,763 franchised offices and 1,000 company-owned offices. The company was founded in 1985 and is headquartered in Parsippany, New Jersey.

Jazz Pharmaceuticals, Inc. (NASDAQ: JAZZ), a specialty pharmaceutical company, develops and commercializes products for neurology and psychiatry primarily in the United States. The company�s marketed products include Xyrem for the treatment of excessive daytime sleepiness and cataplexy in patients with narcolepsy; and Luvox CR for obsessive compulsive disorder and social anxiety disorder. Its product candidate in Phase III clinical trials comprise JZP-6 for the treatment of fibromyalgia. The company�s other product candidates in clinical development comprises JZP-8, an intranasal formulation of clonazepam for the treatment of recurrent acute repetitive seizures in epilepsy patients who continue to have seizures while on stable anti-epileptic regimens; JZP-4, a controlled release formulation of an anticonvulsant for the treatment of epilepsy and bipolar disorder; and JZP-7 for the treatment of restless legs syndrome. Jazz Pharmaceuticals, Inc. was founded in 2003 and is headquartered in Palo Alto, California.

Hercules Offshore, Inc. (NASDAQ: HERO), together with its subsidiaries, provides shallow-water drilling and marine services to the oil and natural gas exploration and production industry in the U.S. Gulf of Mexico and internationally. It serves integrated energy companies, independent oil and natural gas operators, and national oil companies. As of March 31, 2009, the company owned a fleet of 31 jackup rigs, 17 barge rigs, 3 submersible rigs, 1 platform rig, and a fleet of marine support vessels operated through Delta Towing, a wholly owned subsidiary, as well as 60 liftboat vessels and 5 liftboat vessels owned by a third party. In addition, the company owns 4 retired jackup rigs and 10 retired inland barges located in the U.S. Gulf of Mexico. The company was formerly known as Hercules Offshore, LLC and changed its name to Hercules Offshore, Inc. in November 2005. Hercules Offshore, Inc. was founded in 2004 and is based in Houston, Texas.

OfficeMax Incorporated (NYSE: OMX), together with its subsidiaries, distributes business-to-business and retail office products. The company operates in two segments, Officemax Contract and Officemax Retail. The Officemax Contract segment markets and sells office supplies and paper, technology products and solutions, and office furniture directly to large corporate and government offices, as well as to small and medium-sized offices in the United States, Canada, Australia, and New Zealand. It sells its products through field salespeople, outbound telesales, catalogs, Internet, and office product stores. As of January 24, 2009, it operated 47 distribution centers and 6 customer service and outbound telesales centers, as well as 60 office products stores. The Officemax Retail segment operates as a retail distributor of office supplies and paper, print and document services, technology products and solutions, and office furniture. As of the above date, it operated 1,024 stores the United States and Mexico, 3 distribution centers in the United States, and 2 small distribution centers in Mexico. OfficeMax Incorporated, formerly known as Boise Cascade Corporation, was founded in 1913 and is headquartered in Naperville, Illinois.

KeyCorp (NYSE: KEY) operates as the holding company for KeyBank National Association that provides various retail and commercial banking services to individual, corporate, and institutional clients in the United States. The company offers various deposit and loan products. Its deposit product portfolio includes NOW accounts, money market deposit accounts, savings deposits, certificates of deposit, and time deposits. The company�s loan product line comprises commercial, financial, and agricultural loans; commercial real estate loans, including commercial mortgage and construction loans; residential real estate loans; and consumer loans. It also offers personal and corporate trust services, personal financial services, access to mutual funds, cash management services, investment banking and capital markets products, international banking services, and investment management services. In addition, the company provides accident, health, and credit-life insurance services; community development financing; securities underwriting and brokerage; and merchant services. As of December 31, 2008, it operated 986 full-service retail banking branches in 14 states and a network of 1,478 automated teller machines in 16 states. The company was founded in 1849 and is headquartered in Cleveland, Ohio.

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