Motorola (MOT) NewsBite - NOK Warning Pulls Down MOT

Posted on Friday, September 05, 2008 9:50 AM

Motorola (NYSE: MOT) opened at $8.84. So far today, the stock has hit a low of $8.70 and a high of $8.95. MOT is now trading at $8.92, down $0.22 (-2.39%). Over the last 52 weeks the stock has ranged from a low of $6.62 to a high of $19.68. MOT shares are falling this morning after competitor Nokia (NOK) warned that weaker consumer confidence in multiple markets will force many handset-makers to lower prices in order to preserve market share. This could be a bad sign for MOT's earnings, due out sometime in October. Technical indicators for the stock are neutral and S&P gives MOT a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on MOT the stock seems like it could be a candidate for a January out-of-the-money bear-call credit spread above the 10 range. [ABR-Seven Summits Strategic Investments NewsBite]