Schering Plough (SGP) NewsBite - SGP Rises on FDA Approval

Posted on Thursday, March 27, 2008 12:32 PM

Schering Plough (SGP) opened at $18.72. So far today the stock has hit a low of $18.72 and a high of $19.33. SGP is now trading at $19.30, up 0.60 (3.21%). After hitting a one-year high of $33.81 in May, the stock hit a one-year low of $17.45 in January. SGP shares are trading higher today after receiving FDA approval for a change on its hepatitis C drug Rebetol that will allow it to be used at higher doses in heavier patients. Technical indicators for SGP are neutral and improving, while S&P gives the stock a neutral 3 Stars (out of 5) Hold rating. For a hedged play on this stock, consider an August bull-put spread below the $15 range. SGP hasn't been below 15 at all in the past year, and could lose up to 22.3% before this trade loses money. [LHF- Seven Summits Strategic Investments NewsBite]