Sprint Nextel (S) NewsBite - S Lower on Economic Worries

Posted on Monday, August 18, 2008 10:08 AM

Sprint Nextel (NYSE: S) opened at $9.17. So far today, the stock has hit a low of $9.01 and a high of $9.25. S is now trading at $9.03, down $0.30 (-3.22%). Over the last 52 weeks the stock has ranged from a low of $5.48 to a high of $19.70. Shares of S are declining with the broader market this morning as higher oil futures have triggered investors' worries that rising energy costs will cut into consumer spending and may delay economic recovery. Technical indicators for the stock are neutral and S&P gives S a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on S the stock seems like it could be a candidate for a September out-of-the-money bear-call credit spread above the 10 range. [ABR-Seven Summits Strategic Investments NewsBite]

Stocks To Watch Today: MS, PBR, GM, F, MRK, BTU, NEM, BJ, PRU, UNP, TEVA, ACE (Click Symbol For Latest News)

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