Bucyrus International (BUCY) NewsBite - BUCY Gets Lift From Joy Global's (JOYG) Earnings
Posted: Wednesday, March 03, 2010 11:16 AM EDT
By: Market Intelligence Center Staff
Bucyrus International (NASDAQ: BUCY) opened at $64.44. So far today, the stock has hit a low of $64.10 and a high of $65.10. BUCY is now trading at $64.95, up $1.76 (2.79%). Over the last 52 weeks the stock has ranged from a low of $10.62 to a high of $68.57. BUCY shares are getting support this morning from a better-than-expected quarterly earnings report from competitor Joy Global, Inc. (JOYG). JOYG earned 73 cents per share on revenue of $729.22 million during the first quarter. Analysts had forecast earnings of 64 cents per share on revenue of $663.41 million. This could be good sign for BUCY. Technical indicators for the stock are bullish and S&P gives BUCY a positive 5 STARS (out of 5) strong buy ranking. If you are looking for a hedged play on BUCY the stock seems like it could be a candidate for an April out-of-the-money bull-put credit spread below the 55 range. [ABR-Seven Summits Strategic Investments NewsBite]
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