Diamond Offshore Drilling (DO) NewsBite - DO Slips on Downgrade
Posted: Wednesday, March 17, 2010 12:55 PM EDT
By: Market Intelligence Center Staff
Diamond Offshore Drilling (NYSE: DO) opened at $87.49. So far today, the stock has hit a low of $87.43 and a high of $88.59. DO is now trading at $87.91, down $0.41 (-0.46%). Over the last 52 weeks the stock has ranged from a low of $59.40 to a high of $108.78. DO shares are declining after the stock was downgraded at Credit Suisse to Underperform from Neutral. 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 bear-call credit spread above the 100 range. [ABR-Seven Summits Strategic Investments NewsBite]
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