Omniture (OMTR) NewsBite - Omniture Swings to Loss on Acquisition Costs

Posted on Thursday, July 24, 2008 3:23 PM

Omniture Inc. (OMTR) opened at 18.00. So far today, the stock has hit a low of 17.97 and a high of 19.87. OMTR is now trading at 18.72, down 2.25 (-12.50%). The stock hit its 52 week high of 38.57 in October and set its 52 week low of 17.72 in July. OMTR has been dropping since November of last year. Omniture posted yesterday evening a larger second-quarter net loss of $6.5 million as acquisition-related costs and other items weighed on profit. The company reported adjusted earnings of 10 cents per share on sales of $74.9 million, while analysts forecast a profit of 11 cents per share on revenue of $74.3 million. Technical indicators for the stock are bearish and steady while S&P gives OMTR a negative 2 STARS (out of 5) sell rating. If you’re looking for a hedged play on this stock, consider a September bear-call credit spread above the $25 range. OMTR stock could rise up to 33.5% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]