Dolby Laboratories Inc.
(DLB) opened at 35.53. So far today, the stock has hit a low of 35.53 and a high of 38.39. DLB is now trading at 37.59, up 2.28 (6.42%). The stock hit its 52 week high of 53.63 in January and set its 52 week low of 30.56 in June. DLB rose during 2007, but has shown signs of weakness this year. Shares of Dolby Laboratories have been soaring with the diversified electronics sector with Tyco Electronics Ltd.
(TEL) and LG Display Co. Ltd.
(LPL) posting big gains in addition to DLB. Technical indicators for the stock are bearish and steady while S&P gives DLB a positive 4 STARS (out of 5) buy rating. If you’re looking for a hedged play on this stock, consider a June bull-put credit spread below the $30 range. DLB stock could fall up to 20.2% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]