Gogo, Shutterstock, Sothebys Stocks Moving Today

Gogo, Shutterstock, and Sothebys are three stocks making notable moves on the charts today

by Josh Selway

Published on Feb 27, 2017 at 3:37 PM
Updated on Jun 24, 2020 at 10:16 AM

The Dow has pared earlier losses, bringing a 12th straight record close into sight. Among specific equities in focus are in-flight internet provider Gogo Inc (NASDAQ:GOGO), stock photo specialist Shutterstock Inc (NYSE:SSTK), and auction house Sothebys (NYSE:BID). Here's a quick look at what's moving shares of GOGO, SSTK, and BID.

Gogo Flies High After Guidance

GOGO is up 16.6% at $10.63, on pace for its first close atop the 200-day moving average since September, after the company announced a better-than-expected revenue outlook for 2017. Gogo Inc also said it expects to be cash-flow positive in 2019, which is a year earlier than previously anticipated. While shareholders are celebrating the news, short sellers are getting crushed. At GOGO's average pace of trading, it would take such bears a mind-boggling five weeks to cover their positions. 

Quarterly Results, Outlook Shock Shutterstock Shareholders

SSTK is one of the biggest losers on the New York Stock Exchange today, dropping 17.5% to trade at $42.59, after the company delivered lackluster quarterly results and a downbeat outlook. While the shares are still higher on a year-over-year basis, they're now well on pace for their first close below the 50-week moving average since early December. We'll see if the bear gap results in any reshuffling from the brokerage bunch, since all five analysts covering Shutterstock Inc consider it just a "hold." 

Sothebys Beat Brings New Highs

BID, meanwhile, is near the top of the Big Board, up 15.3% at $46.23, after the company's impressive fourth-quarter earnings report. The shares earlier tagged a nearly two-year high of $46.99, and have now more than doubled in value over the past 12 months. Despite these huge gains, Sothebys is heavily shorted, with short interest accounting for almost 19% of the stock's total float -- or 23 times its average daily volume. 

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