Embraer Empresa Brasileira (ERJ) NewsBite - ERJ Earnings Disappoint

Posted: Friday, October 30, 2009 11:02 AM EDT

Embraer Empresa Brasileira de Aeronautics (NYSE: ERJ) opened at $22.37. So far today, the stock has hit a low of $21.72 and a high of $22.40. ERJ is now trading at $22.01, down $1.44 (-6.14%). Over the last 52 weeks the stock has ranged from a low of $9.27 to a high of $25.28. ERJ reported earnings this morning, posting a third-quarter profit of $57.7 million, or 32 cents per share, below analysts' forecasts of 47 cents per share. Technical indicators for the stock are neutral and S&P gives ERJ a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on ERJ the stock seems like it could be a candidate for a January out-of-the-money bear-call credit spread above the 25 range. [ABR-Seven Summits Strategic Investments NewsBite]

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