SanDisk (SNDK) NewsBite - SanDisk Jumps on Buyout News

Posted on Friday, September 05, 2008 10:06 AM
SanDisk (NasdaqNM: SNDK) opened at $16.95. So far today, the stock has hit a low of $16.79 and a high of $17.24. SNDK is now trading at $17.27, up $3.80 (28.16%). The stock hit its 52-Week high of $56.46 in September and set its 52-Week low of $13.06 in July. SanDisk shares have been soaring in morning trading on news that Samsung Electronics Co. was considering buying the company. Technical indicators for the stock are bearish and S&P gives SNDK a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on SNDK the stock seems like it could be a candidate for an October out-of-the-money bull-put credit spread below the 12.50 range. [ABR-Seven Summits Strategic Investments NewsBite]
Stocks To Watch Today: FCX, HAL, ISRG, MRVL, HMC, CEG, GENZ, LMT, WYNN, BNI (Click Symbol For Latest News)

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