Alcoa (AA) NewsBite - AA Rises As Inflation Fears Subside
Posted: Wednesday, March 17, 2010 9:54 AM EDT
By: Market Intelligence Center Staff
Alcoa (NYSE: AA) opened at $14.02. So far today, the stock has hit a low of $14.00 and a high of $14.17. AA is now trading at $14.17, up $0.37 (2.68%). Over the last 52 weeks the stock has ranged from a low of $5.22 to a high of $17.60. AA shares are rising with other stocks this morning after the Labor Department said core wholesale inflation rose 0.1 percent in February, matching analysts' expectations and assuaging investors' fears that rising inflation would force the Federal Reserve to raise interest rates sooner than expected. Technical indicators for the stock are neutral and S&P gives AA a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on AA the stock seems like it could be a candidate for a July out-of-the-money bull-put credit spread below the 11 range. [ABR-Seven Summits Strategic Investments NewsBite]
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