Lennox International (LII) NewsBite - Lennox Reports Better-Than-Expected Profit

Posted on Wednesday, July 23, 2008 2:06 PM

Lennox International Inc. (LII) opened at 33.57. So far today, the stock has hit a low of 33.57 and a high of 37.95. LII is now trading at 36.12, up 3.12 (9.29%). The stock hit its 52 week high of 42.22 in January and set its 52 week low of 25.17 in April. LII has been trading lower since the beginning of this year. Lennox International reported today second-quarter adjusted earnings of $59.2 million, or $1.02 a share as its refrigeration business got a lift from warmer-than-average weather in June. Revenue fell 4 percent to $1 billion. Analysts were expecting earnings of 91 cents a share on revenue of $1.01 billion. Technical indicators for the stock are neutral and improving while S&P gives LII a neutral 3 STARS (out of 5) hold rating. If you are looking for a hedged play on this stock, consider a December covered call at the $35level. That stock would have to drop by more than 12.2% before we would start to lose money. [RHF - Seven Summits Strategic Investments]