Dolby Laboratories (DLB) NewsBite - DLB Flat on Financial Concerns

Posted on Monday, July 14, 2008 2:38 PM

Dolby Laboratories Inc. (DLB) opened at 38.36. So far today, the stock has hit a low of 38.01 and a high of 38.85. DLB is now trading at 37.92, down 0.20 (-0.42%). The stock hit its 52 week high of 53.63 in January and set its 52 week low of 31.01 in August. DLB has been showing signs of weakness since December of last year. Dolby Laboratories shares have been losing ground today along with the braider market as investors worried that even a safety net set up over the weekend for mortgage financiers Fannie Mae (FNM) and Freddie Mac (FRE) couldn't stop further troubles in the financial markets. 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 an August bear-call credit spread above the $45 range. DLB stock could rise up to 18.7% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]