Traders 'Hit the Bid' on Sotheby's (BID) Despite Record Sale
Tweet Send to a Friend
Get Alerts BID Hot Sheet
Price: $38.36 -0.57%
Overall Analyst Rating:
NEUTRAL (
Down)
Dividend Yield: 1.2%
Revenue Growth %: -3.1%
Overall Analyst Rating:
NEUTRAL (
Down)Dividend Yield: 1.2%
Revenue Growth %: -3.1%
Trade BID Now!
Last night's record $119.9 million sale of the painting "The Scream" is doing nothing for Sotheby's (NYSE: BID) stock. While the sale won't be an immediate boon to financial results for Sotheby's, this has investors scratching their heads. Just the publicity around the record sale was expected to put a bid into the stock. Instead, shares are down nearly 4%.
The downside action could suggest investors are getting nervous with the company setting its first quarter earnings date on Thursday, May 10, 2012. With shares up 32% YTD they may be busy locking in gains.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
The downside action could suggest investors are getting nervous with the company setting its first quarter earnings date on Thursday, May 10, 2012. With shares up 32% YTD they may be busy locking in gains.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Tesla (TSLA) Ramps Higher (GM)
- UPDATE: MannKind Corp. (MNKD) Crashes
- UPDATE: SolarCity (SCTY) on Watch as Negative Research Hits
Create E-mail Alert Related Categories
Insiders' Blog, Trader TalkRelated Entities
Earnings
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
