Yahoo! Inc.
(YHOO) opened at 26.46. So far today, the stock has hit a low of 26.15 and a high of 26.64. YHOO is now trading at 26.27, down 0.58 (-2.19%). The stock hit its 52 week high of 34.08 in October and set its 52 week low of 18.58 in January. YHOO had a big jump in February, but is showing signs of weakness recently. Yahoo shares have been dropping today following a letter sent by Carl Icahn to the company's Chairman saying that a merger with Microsoft Corp.
(MSFT) is the "only way to salvage" the company. Icahn said CEO Jerry Yang went to "inordinate lengths" to keep Microsoft from being successful in its bid to buy the company. Technical indicators for the stock are neutral and slightly improving while S&P gives YHOO a neutral 3 STARS (out of 5) hold rating. If you’re looking for a hedged play on this stock, consider a July bear-call credit spread above the $30 range. YHOO stock could rise up to 14.2% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]