Stock Market Alert - OSTK was one of the biggest winners on Friday, surging over 30% to close the regular session at $18.47 after reporting better than expected quarterly earnings. Volume was heavy with nearly two million shares of the stock changing hands, compared to a normal daily average of 326k shares. The stock has recovered quite a bit from its March lows. OSTK hit a high of $21 on Friday before pulling back and closing at $18.47. OSTK posted a quarterly loss of 17 cents per share, bettering the general analyst consensus which was a loss of 32 cents per share. Analysts were also expecting sales of $168.7 million - OSTK turned in an impressive $200.7 million dollars in sales. In addition to this, OSTK also reported a cash balance of $90 million and Patrick Byrne, CEO of the company, announced said that the company had repurchased 1.1 million shares during the quarter.
Sorry, the comment form is closed at this time.