Vodafone Group (VOD) NewsBite - Vodafone Warns About Revenue

Posted on Tuesday, July 22, 2008 3:05 PM

Vodafone Group plc (VOD) opened at 25.61. So far today, the stock has hit a low of 25.50 and a high of 26.03. VOD is now trading at 25.54, down 4.19 (-16.36%). The stock hit its 52 week high of 40.87 in November and set its 52 week low of 25.50 today. VOD has been slipping since the month of November of last year. Vodafone Group slashed today its full-year sales guidance as tough economic conditions led consumers to refrain from buying and using new handsets. The company now expects revenue to be at the bottom of its 39.8 billion pound ($79.8 billion) to 40.7 billion pound ($81.6 billion) range. Technical indicators for the stock are neutral and improving while S&P gives VOD a neutral 3 STARS (out of 5) hold rating. If you’re looking for a hedged play on this stock, consider an October bear-call credit spread above the $30 range. VOD stock could rise up to 17.5% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]