Assured Guaranty (AGO) NewsBite - Stock Offering Pulls Down AGO

Posted: Tuesday, June 16, 2009 10:59 AM EDT

Assured Guaranty (NYSE: AGO) opened at $12.55. So far today, the stock has hit a low of $12.29 and a high of $12.96. AGO is now trading at $12.55, down $1.60 (-11.31%). Over the last 52 weeks the stock has ranged from a low of $2.69 to a high of $24.91. Shares of AGO are trading lower today after the company announced plans to offer $400 million worth of its common shares to fund an acquisition of Financial Security Assurance Holdings Ltd (FSA). Technical indicators for the stock are neutral and S&P gives AGO a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on AGO the stock seems like it could be a candidate for a July out-of-the-money bear-call credit spread above the 15 range. [ABR-Seven Summits Strategic Investments NewsBite]

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