Winn-Dixie (WINN) NewsBite - WINN Downgraded By Janney Montgomery

Posted: Wednesday, October 28, 2009 12:31 PM EDT

Winn-Dixie (WINN) was downgraded today by analysts at Janney Montgomery and the stock is now at $11.07, down $0.96 (-7.98%) on volume of 507,574 shares traded. Janney Montgomery downgraded the stock to Neutral from Buy after the company reported a 15 cent loss per share verse analysts estimates for a loss of 2 cents Monday. Over the last 52 weeks the stock has ranged from a low of $8.01 in March to a high of $16.24 in December. Winn-Dixie stock has been showing support around $11.30 and resistance in the $13.36 range. If you are looking for a hedged play on WINN the stock seems like it could be a candidate for a March out-of-the-money bear-call credit spread above the 15 range. [ABR-Seven Summits Strategic Investments NewsBite]

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