Macy's (M) NewsBite - M August Sales Beat Analysts' Forecasts

Posted: Thursday, September 02, 2010 1:46 PM EDT
By: Market Intelligence Center Staff





Macy's (NYSE: M) opened at $20.41. So far today, the stock has hit a low of $20.16 and a high of $20.57. M is now trading at $20.30, up $0.11 (0.54%). Over the last 52 weeks the stock has ranged from a low of $14.61 to a high of $25.25. This morning M announced its same-store sales rose 4.3% last month, beating analysts' forecasts of 4.0% growth. Technical indicators for the stock are bullish and S&P gives M a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on M the stock seems like it could be a candidate for an October out-of-the-money bull-put credit spread below the 18 range. [ABR-Seven Summits Strategic Investments NewsBite]



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