Gannett (GCI) NewsBite - Market Rally Lifts GCI

Posted: Monday, November 23, 2009 11:08 AM EDT

Gannett (NYSE: GCI) opened at $10.70. So far today, the stock has hit a low of $10.70 and a high of $11.02. GCI is now trading at $10.71, up $0.33 (3.18%). Over the last 52 weeks the stock has ranged from a low of $1.85 to a high of $14.18. GCI shares are rising with other stocks today after a better-than-expected home sales report touched off a rally on the stock market. Technical indicators for the stock are neutral and S&P gives GCI a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on GCI the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 9 range. [ABR-Seven Summits Strategic Investments NewsBite]

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