Ruby Tuesday (RT) NewsBite - Stock Trading Up Over 10% Following Strong Q1 Earnings

Posted: Thursday, October 08, 2009 11:57 AM EDT

Ruby Tuesday (NYSE: RT) opened at $8.40. So far today, the stock has hit a low of $8.10 and a high of $8.83. RT is now trading at $8.76, up $.85 (10.75%). The stock hit its 52-Week high of $9.04 in September and set its 52-Week low of $.85 in March. Ruby Tuesday is trading sharply higher today after posting better than expected earnings last night for its fiscal first quarter. Analysts had been expecting to see 9 cents per share, but the company surprised to the upside with 11 cents per share during the quarter. Technical indicators for the stock are bearish and S&P gives RT a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on RT the stock seems like it could be a candidate for an October out-of-the-money bull-put credit spread below the 7.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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