GlaxoSmithKline PLC (GSK) NewsBite - GSK Rises on Promising Market Data
Posted: Thursday, March 18, 2010 9:57 AM EDT
By: Market Intelligence Center Staff
GlaxoSmithKline PLC (NYSE: GSK) opened at $38.66. So far today, the stock has hit a low of $38.61 and a high of $38.69. GSK is now trading at $38.64, up $0.84 (2.22%). Over the last 52 weeks the stock has ranged from a low of $28.50 to a high of $43.47. GSK shares are rising with the broader market this morning after the Labor Department reported muted inflation data that matched economists' forecasts. The news reassured investors that the Federal Reserve may not face much inflationary pressures in the short time, allowing it to keep interest rates low. Technical indicators for the stock are neutral and S&P gives GSK a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on GSK the stock seems like it could be a candidate for a May out-of-the-money bull-put credit spread below the 35 range. [ABR-Seven Summits Strategic Investments NewsBite]
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