Titanium Metals (TIE) NewsBite - TIE Jumps on Boeing (BA) Agreement

Posted: Monday, November 16, 2009 10:19 AM EDT

Titanium Metals (NYSE: TIE) opened at $9.70. So far today, the stock has hit a low of $9.60 and a high of $9.94. TIE is now trading at $9.86, up $0.54 (5.79%). Over the last 52 weeks the stock has ranged from a low of $4.04 to a high of $11.52. TIE shares are on the move this morning after the company signed a 5-year titanium supply agreement with Boeing (BA), effective January 1, 2011. Financial terms of the deal have not yet been disclosed. Technical indicators for the stock are bearish and S&P gives TIE a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on TIE the stock seems like it could be a candidate for a March out-of-the-money bull-put credit spread below the 7.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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