Diamond Offshore Drilling (DO) NewsBite - DO Rises Despite Broker Downgrade
Posted: Tuesday, February 16, 2010 1:05 PM EDT
By: Market Intelligence Center Staff
Diamond Offshore Drilling (NYSE: DO) opened at $85.93. So far today, the stock has hit a low of $86.37 and a high of $87.69. DO is now trading at $87.23, up $0.27 (0.31%). Over the last 52 weeks the stock has ranged from a low of $53.30 to a high of $108.78. DO was downgraded at Dahlman Rose today to Hold from Buy. However, shares of the stock are rising, lifted by higher oil futures. Technical indicators for the stock are bullish and S&P gives DO a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on DO the stock seems like it could be a candidate for a June out-of-the-money bull-put credit spread below the 75 range. [ABR-Seven Summits Strategic Investments NewsBite]
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