Banco Santander (STD) NewsBite - STD Falls on Reports of RBC Unit Interest

Posted: Tuesday, November 03, 2009 11:15 AM EDT

Banco Santander (NYSE: STD) opened at $15.62. So far today, the stock has hit a low of $15.58 and a high of $15.82. STD is now trading at $15.77, down $0.49 (-3.01%). Over the last 52 weeks the stock has ranged from a low of $4.87 to a high of $17.59. Shares of STD are declining on reports that the company may be interested in buying the small- and medium-sized business unit of Royal Bank of Scotland Group PLC. Technical indicators for the stock are bullish and S&P gives STD a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on STD the stock seems like it could be a candidate for a March out-of-the-money bear-call credit spread above the 17.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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