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Overstock.com, Inc.

5/19/2013, 2:27 PM ET

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Friday, April 19, 1:09 PM Midday top 10 gainers: VRTX +60%. NETE +33%. RH +21%. MCOX +18%. OSTK +17%. HWAY +17%. NVDQ +16%. ANAC +12%. LIVE +11%. CMG +10%.
Midday top 10 losers: ACTG -25%. VIMC -15%. PRGX -14%. AIRM -14%. NSIT -12%. CNIT -11%. RMBS -10%. CRME -10%. DIT -9%. OSH -9%. 1 Comment [On the Move]
Friday, April 19, 10:27 AM Overstock (OSTK +18.1%) adds to yesterday's giant post-earnings gains following a 2-notch upgrade to Buy from BofA/Merrill. "We believe strong Q1 results are not just a head fake (something Overstock has been notorious at doing in the past) but believe the company is turning the corner," says analyst Nat Schindler. He notes the Q1 beat was fueled by 22% Y/Y partner sales growth (above a 9% estimate) and lower-than-expected opex. Altogether, shares are up 62% over the last 2 days. Comment! [Tech, On the Move, Quick Ideas]
Thursday, April 18, 9:58 AM Overstock (OSTK +23.5%) skyrockets after reporting Q1 revenue of $312M (+19% Y/Y) and EPS of $0.32; that soundly beats estimates of $282.3M and $0.15 from the one analyst covering the company. Gross margin rose 80 bps Y/Y to 18.9%, sales/marketing spend 29% to $18.7M, and G&A/technology spend 9% to $33.2M. CC at 11:30AM ET (webcast). 31.3% of the float was shorted as of March 28; it looks like a lot of those shorts are covering today. Comment! [Tech, Earnings, On the Move]
Thursday, March 28, 6:09 PM Amazon (AMZN) roundup: 1) New York's highest court has shot down an appeal from Amazon and Overstock (OSTK) challenging a law requiring online retailers to collect sales tax even if they only have local affiliates. A Supreme Court appeal could follow, but a Congressional bill could render it moot. 2) The backlash over Amazon's reseller fee hikes has spread to Europe, as sellers protest major post-Easter hikes for a variety of items. 3) Farhad Manjoo observes Goodreads likely generates plenty of revenue from Amazon affiliate fees. "This is like buying your ad agency." Comment! [Tech, Consumer]
Thursday, March 28, 3:07 PM Overstock.com (OSTK -0.9%) says it might appeal a decision of a New York Court of Appeals over the state's affiliate tax laws on the grounds of constitutionality. If the Supreme Court takes the case up, it could have a broad impact on e-commerce businesses including behemoth Amazon. Comment! [Consumer]
Sunday, March 24, 2:46 PM By a 75-24 margin, the Senate has passed a non-binding vote of approval for a bill allowing states to collect sales taxes from online retailers with $1M+ in annual sales and no presence within a given state's borders. The margin of victory suggests a filibuster shouldn't be a problem when a binding vote is made. Amazon (AMZN) and eBay (EBAY) have already begun collecting in a number of large states, and many investors have already assumed collections will expand in time. (previous) 55 Comments [Tech, Consumer]
Wednesday, March 20, 8:52 AM Visa (V) says it signed on Overstock.com (OSTK) as a new merchant that will use its V.me e-commerce checkout solution. The company says it now has 35 online merchants signed up for the digital wallet service with billion-dollar retailer Overstock.com being the crown jewel so far. Comment! [Consumer, Tech]
Friday, February 15, 10:40 AM Democrats and the GOP are working together on a bill in Congress to resolve the online sales tax issue. The latest iteration of the bill looks likely to be finalized and sent to President Obama's desk this year. With online sales now repping more than 5% of all of retail sales, states will bring in significant revenue while larger Internet-based retailers will lose some pricing power. Though Amazon (AMZN -1.4%) is the obvious target to take a hit - that expectation could already be baked into its share price - and it could be smaller Internet shops such as Blue Nile (NILE +1.2%) or Overstock.com (OSTK +0.2%) which feel the pain. 4 Comments [Consumer, U.S. Economy]
Tuesday, February 12, 10:07 AM Overstock.com (OSTK -2.8%) chairman/CEO Patrick Byrne is taking a personal leave of absence to deal with cardiac issues. President/corporate secretary Jonathan Johnson will serve as CEO in the interim. (PR) 2 Comments [Tech, On the Move]
Friday, February 8, 1:57 PM U.S. e-commerce sales rose 15% in 2012 to $186B, says comScore - that's the strongest annual rate posted since the financial crisis. Q4 sales rose 14% in spite of holiday season lumpiness, fueled by strong demand for media, electronics, toys, and apparel. Meanwhile, eMarketer thinks global B2C e-commerce sales (harder to estimate) rose 21% in 2012 to $1.02T, driven by 33% Asia-Pac growth. Amazon (AMZN -27% 2012 sales growth) continues to gain share, and eBay (EBAY - 16% Q4 Marketplaces growth) is halting its share losses. Comment! [Tech, Consumer]
Thursday, January 24, 2:02 PM Overstock.com (OSTK +8.1%) surges after reporting Q4 revenue of $342M (+9% Y/Y, the highest growth rate in years) and EPS of $0.37 (up from -$0.15 in Q4 '11). EPS was lifted by a 170 bps Y/Y increase in gross margin to 17.9%, and a 4% drop in G&A/technology spending to $32.7M. Average order size rose 15% Y/Y to $132. Bigger peers Amazon (AMZN +1.7%) and eBay (EBAY +2.3%) are also higher. (slides) 2 Comments [Tech, Earnings, On the Move]
Thursday, January 24, 12:50 PM Shares of Overstock.com (OSTK +8.9%) move higher after the company reports improved profits as it was able to generate a higher average order size off of its website. RetailGeeks has the chart that speaks a thousand words in comparing the online seller's margins to Amazon over time. 1 Comment [Consumer, On the Move]
Friday, January 18, 2:37 PM Overstock.com (OSTK +0.5%) CEO Patrick Byrne was recently arrested at Salt Lake City International Airport after allegedly going through security with a handgun in his carry-on baggage. Byrne is said to have denied knowing the gun was there. Investors don't seem to be too worried about the incident. Comment! [Tech]
Thursday, January 17, 2:42 PM eBay (EBAY +2.9%) is making new highs yet again, as investors brush off the ho-hum guidance (viewed by some as conservative) found in its Q4 report and instead focus on very strong PayPal and mobile growth. Nomura is worried a bit about PayPal's margin decline (the result of aggressive spending under new chief David Marcus), but reiterates a Buy. Others are encouraged by Marketplaces' strength, the product of mobile activity and a revamped site. OSTK +4.7%. (transcript) Comment! [Tech, Consumer, On the Move]
Monday, December 24, 2012, 1:39 PM U.S. e-commerce sales somehow rose 53% Y/Y for the week of Dec. 17-21, says comScore - the research firm attributes this surge to free shipping offers, extended promotions, and retailer promises to have items delivered by Christmas. As a result, sales for the full holiday season are now up 16% Y/Y, better than the 13% reported last week, though still slightly below a prior forecast of 17%. Amazon's (AMZN) Q4 should benefit from the sales boost, but did the company sacrifice margins along the way? 9 Comments [Tech, Consumer]
Tuesday, December 11, 2012, 2:00 PM Starting next fall, Massachusetts will join the list of states where Amazon (AMZN +1.8%) is required to collect sales tax: Gov. Patrick's administration has been pushing for collections since Amazon bought local robot firm Kiva Systems. Meanwhile, Wells Fargo notes the latest comScore data suggests holiday season e-commerce growth is tracking to 13% Y/Y (below a prior 17%), and is wondering if a recent 10%-off promotion sent to select customers is a sign of desperation. (earlier) 1 Comment [Tech]