Allegheny Technologies (ATI) NewsBite - ATI Rises on New Contracts
Posted: Tuesday, February 09, 2010 10:23 AM EDT
By: Market Intelligence Center Staff
Allegheny Technologies (NYSE: ATI) opened at $41.63. So far today, the stock has hit a low of $41.63 and a high of $42.87. ATI is now trading at $42.64, up $1.94 (4.77%). Over the last 52 weeks the stock has ranged from a low of $16.92 to a high of $53.39. ATI shares are rising today after the company said it signed two long-term agreements to supply zirconium alloy products, used in nuclear power generation. Financial terms of the deals were not disclosed. Technical indicators for the stock are bearish and S&P gives ATI a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on ATI the stock seems like it could be a candidate for a March out-of-the-money bull-put credit spread below the 38 range. [ABR-Seven Summits Strategic Investments NewsBite]
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