LG Philips (LPL) NewsBite - LG Philips LCD Profit Rises on Higher Prices

Posted on Monday, January 14, 2008 1:02 PM

LG Philips LCD Co. (LPL) opened at 24.22. So far today, the stock has hit a low of 24.22 and a high of 25.39. LPL is now trading at 24.90, up 1.53 (6.32%). The stock hit its 52 week high of 31.29 in November and set its 52 week low of 13.83 in January. LPL has been moving upwards for the past year. LG.Philips LCD announced today it posted record quarterly net profit in the final three months of last year on improved panel prices, an increase in shipments and lower costs. LG.Philips posted net profit of 760 billion won, easily beating analysts’ estimates for a net profit of 674 billion won. The company also said it expects earnings to improve further in 2008. Technical indicators for the stock are bearish and steady while S&P gives LPL a neutral 3 STARS (out of 5) hold rating. If you’re looking for a hedged play on this stock, consider an April bull-put credit spread below the $17.50 range. LPL stock could fall up to 29.7% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]