Hershey (HSY) NewsBite - HSY Misses Out on Cadbury (CBY) Deal
Posted: Tuesday, January 19, 2010 11:01 AM EDT
By: Market Intelligence Center Staff
Hershey (NYSE: HSY) opened at $37.26. So far today, the stock has hit a low of $37.26 and a high of $38.01. HSY is now trading at $37.81, up $1.56 (4.3%). Over the last 52 weeks the stock has ranged from a low of $30.27 to a high of $42.25. HSY shares are rising after the company missed out on a takeover bid for Cadbury (CBY). The company was instead bought out by Kraft Foods (KFT) in a $19.4 billion deal. It appears investors are relieved HSY did not get into a costly bidding war with Kraft for Cadbury. Technical indicators for the stock are neutral and S&P gives HSY a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on HSY the stock seems like it could be a candidate for a March out-of-the-money bull-put credit spread below the 35 range. [ABR-Seven Summits Strategic Investments NewsBite]
CLICK HERE: FREE Hershey (HSY) Stock ReportSee what our analysts have uncovered about Hershey (HSY).