RBCN, EXPE, ELX, MFC, SBUX, SLT. Top Losing Stocks With Negative Price Friction In Morning Trade Today
June 30, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, announced today its proprietary Market Maker Friction Factor Report for June 30, 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 afair market makinga 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. Rubicon Technology (NASDAQ: RBCN), Expedia (NASDAQ: EXPE), Emulex (NYSE: ELX), Manulife Financial (NYSE: MFC), Starbucks (NASDAQ: SBUX) and Sterlite Industries India (NYSE: SLT). 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
RBCN -$1.02 -6.39% 21,016 43.05% 26,702 54.70% -5,686 -56
EXPE -$0.92 -5.78% 525,480 43.55% 673,100 55.79% -147,620 -1,605
ELX -$0.88 -8.09% 4,974,895 39.97% 5,403,123 43.41% -428,228 -4,866
MFC -$0.82 -4.53% 307,838 37.73% 410,226 50.28% -102,388 -1,249
SBUX -$0.69 -4.71% 2,225,260 45.12% 2,689,477 54.53% -464,217 -6,728
SLT -$0.62 -4.70% 67,327 34.84% 97,727 50.57% -30,400 -490
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 RBCN with a dollar loss this morning of -$1.02 and a Friction Factor of -56 shares. That means that it only takes 56 more shares of selling than buying to move RBCN 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.
Rubicon Technology, Inc. (NASDAQ: RBCN) develops, manufactures, and sells monocrystalline sapphire and other innovative crystalline products for light-emitting diodes, radio frequency integrated circuits, blue laser diodes, optoelectronics, and other optical applications. It fabricates its products from the boules and sells them in various categories, including core, as-cut, as-ground, and polished. It also manufactures sapphire substrates and optical windows, such as two to four inch sapphire wafers for use in LEDs and blue laser diodes for solid state lighting and electronic applications. In addition, Rubicon Technology offers six inch sapphire wafers that are used for Silicon-on-Sapphire RFICs, as well as products for military, aerospace, sensor, and other applications. Further, the company provides optically-polished windows and ground window blanks of sapphire and various fluoride compounds, such as calcium, barium, and magnesium fluoride. It provides its products to wafer polishing companies and semiconductor device manufacturers in Asia, North America, and Europe. The company was incorporated in 2001 and is based in Franklin Park, Illinois.
Expedia, Inc. (NASDAQ: EXPE), together with its subsidiaries, operates as an online travel company in the United States and internationally. It provides travel products and services to leisure and corporate travelers, offline retail travel agents, and travel service providers through a portfolio of brands, including Expedia.com, hotels.com, Hotwire.com, the TripAdvisor Media Network, Classic Vacations, Expedia Local Expert, Egenciatm, eLong, and Venere. The companya�s travel offerings consist of airline flights, hotel stays, car rentals, destination services, cruises, and package travel provided by various airlines, lodging properties, car rental companies, destination service providers, cruise lines, and other travel product and service companies on a stand-alone and package basis. It also facilitates the booking of hotel rooms, airline seats, car rentals, and destination services from its travel suppliers; and acts as an agent in the transaction, passing reservations booked by its travelers to the relevant airline, hotel, car rental company, or cruise line. The company is headquartered in Bellevue, Washington. Expedia, Inc. operates independently of IAC/InterActiveCorp. as of August 9, 2005.
Emulex Corporation (NYSE: ELX) provides various storage networking infrastructure solutions worldwide. It designs, develops, and supplies chip level and board level server-based Input/Output (I/O) adapters, including host bus adapters and mezzanine cards, which are data communication products that enable servers to connect to storage networks by offloading communication processing tasks as information is delivered and sent to the storage network. The company also offers embedded storage switches, embedded bridges, embedded routers, and storage I/O controllers that are deployed inside storage arrays, tape libraries, and other storage appliances. In addition, it provides intelligent data center networking solutions, which include contract engineering services and legacy products. Emulex Corporation sells its products to original equipment manufacturers, end users, and through other distribution channels, including value added resellers, systems integrators, industrial distributors, and resellers. The company was founded in 1979 and is headquartered in Costa Mesa, California.
Manulife Financial Corporation (NYSE: MFC), through its subsidiaries, operates as a life insurance company. It provides various financial protection and wealth management products and services, including individual life insurance, group life and health insurance, long-term care insurance, pension products, annuities, and mutual funds to individual and group customers in Canada, the United States, and Asia. The company also offers investment management services to institutional customers, as well as provides reinsurance services, specializing in life retrocession, and property and casualty reinsurance. It has a joint venture partnership agreement with NAL Oil & Gas Trust. Manulife Financial Corporation was founded in 1887 and is headquartered in Toronto, Canada.
Starbucks Corporation (NASDAQ: SBUX) engages in the purchase, roasting, and sale of whole bean coffees worldwide. It offers brewed coffees, Italian-style espresso beverages, cold blended beverages, various complementary food items, coffee-related accessories and equipment, a selection of premium teas, and a line of compact discs, through its retail stores. The company also sells and licenses its trademark through other channels. In addition, Starbucks Corporation produces and sells ready-to-drink beverages, which include bottled beverages and espresso drinks, and a line of ice creams. Its brand portfolio includes superpremium Tazo teas, Starbucks Hear Music compact discs, Seattlea�s Best Coffee, and Torrefazione Italia coffee. As of September 30, 2007, the company operated 8,505 retail stores. Starbucks Corporation was founded in 1985 and is based in Seattle, Washington.
Sterlite Industries (India) Limited (NYSE: SLT) operates as a non-ferrous metals and mining company in India and Australia. It engages in copper smelting and refining, and sulphuric acid and phosphoric acid production operations. The company offers copper cathodes for use in the manufacture of copper rods to the wire and cable industry, and copper tubes for consumer durable goods; copper rods that are primarily used in power and communication cables, transformers, and magnet wires; sulphuric and phosphoric acid to fertilizer manufacturers and other industries; and other by-products, such as gypsum and anode slimes to third parties. It also produces and sells zinc ingots to steel producers for galvanizing steel, as well as to alloy, dry cell battery, die casting, and chemical manufacturers; lead ingots primarily to battery and chemical manufacturers; and silver ingots primarily to industrial users of silver. In addition, the company produces primary aluminum in the form of ingots and wire rods that are used for aluminum castings and the fabrication in the construction and transportation industries, as well as in various electrical applications; rolled products, including coils and sheets for the aluminum foil manufacturing, printing, transportation, consumer durables, building and architecture, electrical and communications, packaging, and general engineering industries; and Vanadium sludge, a by-product of the alumina refining process and is primarily used in the manufacture of vanadium-based ferro alloys. The company is based in Mumbai, India. Sterlite Industries (India) Limited operates as a subsidiary of Twin Star Holdings Limited.
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