EI DuPont de Nemours & Co (DD) NewsBite - DuPont Profit Rises Beating Estimates

Tuesday, July 22, 2008 10:47 AM EDT

EI DuPont de Nemours & Co. (DD) opened at 44.33. So far today, the stock has hit a low of 44.20 and a high of 45.14. DD is now trading at 44.68, up 0.63 (1.42%). The stock hit its 52 week high of 53.48 in July and set its 52 week low of 40.43 in July. DD rose at the beginning of this year, but has been weaker recently. DuPont announced this morning its second-quarter profit rose to $1.08 billion on agriculture sales and emerging markets. The company posted earnings of $1.18 per share on sales of $8.83 billion, while analysts expected earnings of $1.07 per share on revenue of $8.47 billion. DuPont also raised its 2008 outlook, now forecasting earnings of $3.45 to $3.55 per share. Analysts predicted $3.50 per share. Technical indicators for the stock are bearish and steady while S&P gives DD a neutral 3 STARS (out of 5) hold rating. If you’re looking for a hedged play on this stock, consider a September bull-put credit spread below the $40 range. DD stock could fall up to 10.5% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]

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