Vmware (VMW) NewsBite - VMW Rises On Morning Market Rally
Posted: Friday, December 11, 2009 10:15 AM EDT
By: Market Intelligence Center Staff
Vmware (NYSE: VMW) opened at $40.60. So far today, the stock has hit a low of $40.60 and a high of $41.98. VMW is now trading at $41.86, up $1.53 (3.79%). Over the last 52 weeks the stock has ranged from a low of $19.15 to a high of $45.57. VMW shares are rising with the rest of the market this morning after a better-than-expected retail sales report assuaged investors worries that weak consumer spending could dampen economic growth. The Commerce Department said retail sales rose 1.3 percent in November, easily topping economists' forecasts of 0.6 percent growth. Technical indicators for the stock are bearish and S&P gives VMW a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on VMW the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 38 range. [ABR-Seven Summits Strategic Investments NewsBite]
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