Shutterfly trades higher after earlier report it is seeking a buyer The stock gapped up at the open and traded to a high of $50.46 before moving lower. That session high remains resistance. At the current price of $49.40 next support is at $48.10, the low of the day. Bloomberg reported that the company has engaged Qatalyst Partners to find a buyer.
On The Fly: Analyst Initiation Summary Today's noteworthy initiations include: Columbia Pipeline (CPPL) initiated with a Buy at Citigroup... DBV Technologies (DBVT) initiated with a Buy at H.C. Wainwright... Genocea (GNCA) initiated with an Overweight at Piper Jaffray... NiSource (NI) initiated with a Neutral at JPMorgan... On Deck Capital (ONDK) initiated with a Sell at Compass Point... Rexel (RXEEY) initiated with an Overweight at Barclays... Shutterfly (SFLY) initiated with a Buy at Axiom... Virgin America (VA) initiated with an Underperform at Credit Suisse.