Google Inc.
(GOOG) opened at 561.49. So far today, the stock has hit a low of 561.33 and a high of 567.17. GOOG is now trading at 565.76, up 12.81 (2.28%). The stock hit its 52 week high of 747.24 in November and set its 52 week low of 412.11 in March. GOOG lost some ground at the beginning of this year, but is showing signs of rebound recently. Shares of Goggle have been rallying today after Yahoo signed a search-advertising agreement with the company to better compete against Microsoft
(MSFT). Yahoo announced yesterday evening that under the new pact, it will display some ads sold by its rival in a deal Yahoo estimated would generate $800 million in annual revenue. Technical indicators for the stock are bullish but deteriorating while S&P gives GOOG a neutral 3 STARS (out of 5) hold rating. If you’re looking for a hedged play on this stock, consider a July bull-put credit spread below the $470 range. GOOG stock could fall up to 16.9% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]