Best Buy (BBY) NewsBite - BBY Moves Higher On Market Optimism
Posted: Friday, September 03, 2010 11:34 AM EDT
By: Market Intelligence Center Staff
Best Buy (NYSE: BBY) opened at $33.89. So far today, the stock has hit a low of $33.81 and a high of $34.67. BBY is now trading at $33.93, up $0.47 (1.40%). Over the last 52 weeks the stock has ranged from a low of $30.90 to a high of $48.83. BBY shares are trading higher with the rest of the market this morning after the Labor Department reported better-than-expected employment numbers in its monthly jobs report. The news reassured investors who had become worried about the prospect of a double-dip recession, triggering a rally in early trading. Technical indicators for the stock are bullish and S&P gives BBY a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on BBY the stock seems like it could be a candidate for an October out-of-the-money bull-put credit spread below the 30 range. [ABR-Seven Summits Strategic Investments NewsBite]
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