Navigate this market better. Subscribe for FREE stock alerts and information.

Wednesday, July 2, 2014

Shutterfly hires investment firm to find buyers - Bloomberg, (NASDAQ: SFLY)

Online photo-printing service Shutterfly Inc has put itself up for sale and hired boutique investment bank Qatalyst Partners to find a buyer, Bloomberg reported, citing sources. ( The company's shares were up 13 percent at $49.05 in premarket trading on Wednesday.

Shutterfly, Inc. is an Internet-based social expression and personal publishing service that enables consumers to share, print and preserve their memories its technology, manufacturing, Web-design and merchandising capabilities. Shares of SFLY remained unchanged at $43.51. In the past year, the shares have traded as low as $36.30 and as high as $59.93. On average, 856373 shares of SFLY exchange hands on a given day and today's volume is recorded at 104360.