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Technology Stocks : CheckFree Holdings Corp. (CKFR), the next Dell, Intel?
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To: Charlie Smith who wrote (20245)7/12/2004 10:27:37 AM
From: Bruce Prescott   of 20297
 
Short Covering may have been a factor --

6/9/04 11:08 AM CheckFree Announces Contract Extension with Wachovia

After the market close Wednesday, CheckFree (NASDAQ: CKFR) announced that it has signed a five-year contract extension with Wachovia for electronic billing and payment services. The stock has reacted very positively today, as the shares are currently up six percent despite a soft market. A look at the sentiment background reveals that short sellers have made large wagers against the equity, with its short-interest ratio currently standing at better than 12 days to cover. This buildup of bearish positions could be giving the stock a boost today, as some of the shorts may have been forced to cover.

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