Micron Technology (MU) NewsBite - MU Removed From UBS Short-Term Buy List

Posted: Wednesday, November 25, 2009 1:21 PM EDT

Micron Technology (NYSE: MU) opened at $7.52. So far today, the stock has hit a low of $7.40 and a high of $7.57. MU is now trading at $7.42, down $0.11 (-1.46%). Over the last 52 weeks the stock has ranged from a low of $1.75 to a high of $9.13. MU shares are down today after analysts at UBS removed the stock from the brokerage's Short-Term Buy List. Technical indicators for the stock are bullish and S&P gives MU a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on MU the stock seems like it could be a candidate for an April out-of-the-money bear-call credit spread above the 9 range. [ABR-Seven Summits Strategic Investments NewsBite]

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