Logitech International (LOGI) NewsBite - LOGI Earnings Beat Forecasts
Posted: Thursday, July 29, 2010 11:21 AM EDT
By: Market Intelligence Center Staff
Logitech International (NASDAQ: LOGI) opened at $16.49. So far today, the stock has hit a low of $16.01 and a high of $16.51. LOGI is now trading at $16.07, up $0.68 (4.42%). Over the last 52 weeks the stock has ranged from a low of $13.17 to a high of $19.76. LOGI reported earnings last night, posting a first-quarter profit of $19.52 million, or 11 cents per share, on revenue of $479 million. Analysts had forecast a profit of 3 cents per share on revenue of $456 million. Technical indicators for the stock are neutral and S&P gives LOGI a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on LOGI the stock seems like it could be a candidate for a December out-of-the-money bull-put credit spread below the 15 range. [ABR-Seven Summits Strategic Investments NewsBite]
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