Earning on Feb 07, 2013. Anyone dare to buy $52.08 AH today. MARK THIS POST :)
I give you guys head up, so when its pop over $50 then don't blame me why I did not sharing... :)
Coinstar Inc. (CSTR), owner of the Redbox DVD rental kiosks and a partner with Verizon Communications Inc. in the Redbox Instant streaming service, benefited from Netflix’s gain, rising 6.5 percent to $51.86. The shares had gained 8.4 percent earlier in the day.
Investors may expect Coinstar to top fourth-quarter forecasts when it reports results on Feb. 7, said Eric Wold, an analyst with B. Riley & Co. in San Francisco. They also may be looking for improved performance in 2013, he said. Analysts are forecasting 76 cents a share in fourth-quarter profit, down from $1 a year earlier, the average of six estimates compiled by Bloomberg.
This company has been on my screen for years. I trade it sometimes. They rent DVDs in Walgreens, etc. I usually trade it from the short side. NFLX DVD business is failing, so CSTR might benefit from this, but not sure. DVDs represent the past, but lots of people still rent them. I would not gamble on this before earnings. Rather, I would wait for earnings, and then short any pop. Note their earnings estimate is DOWN, so that suggests a move downward. Also, they have risen in sympathy with NFLX the last few days, so their run may be over. Up $3.35 today. I wouldn't risk it before earnings, but I will wait 'till after earnings. I would be looking to short this just as NFLX. If NFLX crashes before Feb.9, this will change the situation. NFLX is selling off after hours, by the way. Lots of negative articles on Seeking Alpha, etc. If you use "Yahoo Portfolios", add it to your portfolio, then all news about the company and all companies in your portfolio will be at the bottom of the page. Good way to get news about all your stocks in the morning. Also,, this stock has a big spread between the bid & ask, so only use limit orders. Problem with that is they sometimes don't get filled and then you miss your move. It trades similar to NFLX. Can be very volatile.