Trader Alert: Xinhua Finance Media Ltd. (XFML)

Posted in pre-market 
August 19th, 2008

We are seeing more interest in shares of Xinhua Finance Media Ltd. (NASDAQ: XFML) this morning.  Shares have traded over 35,000 shares pre-market and are up about 14% at $3.10 as of 9:10 AM EST.  This traded up last night after earnings with over 400,000 shares.

The company’s earnings beat expectations and it was raising expectations for 2008.  The company posted $0.10 EPS on $48.9 million in sales versus $0.07 EPS and $49.6 million in revenues.  It now sees 2008 EPS at $0.33 to $0.35 versus prior targets of $0.31 to $0.33.  With a large short interest and with a stock down 70% from post-IPO highs, this news will be welcomed by the bulls.  The short interest is over 3.5 million shares as of the latest data, which is about 10-days to cover.

JON OGG

August 19, 2008

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