Waiting on Overstock.com's Earnings (OSTK) - UPDATE

WallStNation.com heard from Overstock.com (NASDAQ:OSTK) today and they have informed us their earnings release will not be today, it has yet to be determined.  When the company is ready, they will let the world know when the call will be.

We reported that Overstock.com's earnings was scheduled to be reported today March 16th (3/16/2010) and that's not going to happen.  Overstock.com's PR contact sent us this email today:

The date for the Overstock.com earnings release has not yet been set. We will issue an advisory press release in advance of the event.

Regards,
Roger Johnson
Overstock.com Public Relations

Stay tuned investors, the company had forecasted earnings of $0.45 per share and since Feb 9th OSTK shares have bounced back 28%.  Today Overstock.com shares are up 3.25% and trading just under $15.

Naked short selling of Overstock.com (OSTK) shares is always a concern for anyone holding positions in the company and depending on the earnings outcome either we will experience a massive decline or short squeeze rally.  Short interest on Overstock.com (OSTK) shares is at 19.29% according to shortsqueeze.com, it's moved down 4% from last month and it gives 29 days for shorts to cover their positions. 

EXPECTATIONS
Overstock.com says it will still report its first annual profit when it gets its 2009 financial statements out.  KPMG, the new auditor, is still at work and there could be more things coming. For now, $1.9 million of income moves from 2009 to 2008, and another $900,000 comes out of 2009 profit due to improper accounting for stock options. There are a bunch of other undisclosed errors being fixed, but none of them are said to be material.