Morning Commentary: Electronics for Imaging bonds higher as shares surge; Tesla series As active

By Rebecca Melvin

New York, Sept. 6 – Electronics for Imaging Inc.’s convertibles were trading actively early Wednesday as shares of the Fremont, Calif.-based digital printing company surged on the back of better guidance, a New York-based convertibles trader said.

The Electronics 0.75% convertible notes due 2019 were shown to have printed at 101.235, which was up 3.8 points, according to Trace data. Shares of the company were last at $40.50, which was up more than $5.00, or 15%.

The shares and convertibles of this company dropped hard in August after the company said it was conducting an internal review of its accounting practices and that it “expects to report a material weakness in internal control over financial reporting related to this matter.”

Meanwhile, Tesla Inc.’s series A convertibles were trading actively at 111.625 versus an underlying share price of $349.59, which was in line with the market early Wednesday.

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