VF (VFC) NewsBite - VF Slips on Disappointing Q3 Outlook

Posted on Wednesday, July 16, 2008 11:20 AM

VF Corp. (VFC) opened at 72.81. So far today, the stock has hit a low of 65.50 and a high of 74.07. VFC is now trading at 69.81, down 0.41 (-0.60%). The stock hit its 52 week high of 96.20 in July and set its 52 week low of 63.68 in January. VFC has been losing ground for the past year. VF announced yesterday evening its second-quarter profit rose to $104 million on strong sales of its outdoor brands and gains from acquisitions. The company posted earnings of 94 cents per share on revenue of $1.67 billion, while analysts forecast earnings of 86 cents per share and sales of $1.67 billion. However, shares of VF have been slipping after its third-quarter outlook missed analysts' expectations. Technical indicators for the stock are neutral and slightly improving while S&P gives VFC a positive 4 STARS (out of 5) X rating. If you’re looking for a hedged play on this stock, consider an August bear-call credit spread above the $75 range. VFC stock could rise up to 7.4% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]