Kraft Foods (KFT) NewsBite - Cadbury (CBY) Makes Case Against KFT's Takeover Bid
Posted: Tuesday, January 12, 2010 11:23 AM EDT
By: Market Intelligence Center Staff
Kraft Foods (KFT) was covered in a Bloomberg Video Report today and the stock is now at $29.00, up $0.20 (0.69%) on volume of 4,520,297 shares traded. To see the video report, which covers Cadbury's (CBY) bid to get shareholders to reject a takeover from Kraft, go to http://www.marketintelligencecenter.com/VideoNews . Over the last 52 weeks the stock has ranged from a low of $20.81 to a high of $29.84. Kraft Foods stock has been showing support around $28.37 and resistance in the $29.31 range. Technical indicators for the stock are bearish and S&P gives KFT a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on KFT the stock seems like it could be a candidate for a June out-of-the-money bull-put credit spread below the 26 range. [ABR-Seven Summits Strategic Investments NewsBite]
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