Cerner (CERN) NewsBite - Cerner Q2 Profit Jumps 31%

Posted on Wednesday, July 23, 2008 1:52 PM

Cerner Corp. (CERN) opened at 44.85. So far today, the stock has hit a low of 42.80 and a high of 47.46. CERN is now trading at 47.19, up 1.13 (2.52%). The stock hit its 52 week high of 66.17 in August and set its 52 week low of 36.60 in April. CERN has been showing signs of weakness since October of last year. Cerner reported yesterday evening its second-quarter profit grew 31% to $35.3 million due to improved sales in its support, maintenance and system services business. The company posted earnings of 51 cents per share on revenue of $402.8 million, while analysts forecast earnings of 50 cents per share on $399.3 million in revenue. Technical indicators for the stock are bearish and steady. If you’re looking for a hedged play on this stock, consider an August bull-put credit spread below the $42.50 range. CERN stock could fall up to 9.9% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]