Veeco Instruments (VECO) NewsBite - VECO Earnings Top Forecasts
Posted: Tuesday, February 09, 2010 10:32 AM EDT
By: Market Intelligence Center Staff
Veeco Instruments (NASDAQ: VECO) opened at $32.23. So far today, the stock has hit a low of $32.23 and a high of $33.84. VECO is now trading at $33.54, up $2.48 (8.00%). Over the last 52 weeks the stock has ranged from a low of $3.22 to a high of $37.57. VECO reported earnings last night, posting a fourth-quarter profit of $18.7 million, or 50 cents per share. Excluding one-time items, VECO earned 41 cents per share on revenue of $146 million, beating analysts' profit forecasts of 34 cents per share on revenue of $129 million. Technical indicators for the stock are bearish and S&P does not currently have a STARS rating for VECO. If you are looking for a hedged play on VECO the stock seems like it could be a candidate for a March out-of-the-money bull-put credit spread below the 30 range. [ABR-Seven Summits Strategic Investments NewsBite]
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