Tenaris (TS) NewsBite - Declining Metal Prices Put Pressure on Tenaris

Posted on Friday, September 05, 2008 2:37 PM
Tenaris (NYSE: TS) opened at $47.35. So far today, the stock has hit a low of $44.63 and a high of $47.35. TS is now trading at $44.97, down $2.14 (-4.54%). The stock hit its 52-Week high of $75.43 in June and set its 52-Week low of $34.91 in January. Shares of Tenaris have been plunging in today's action hurt by lower metal prices. Technical indicators for the stock are bearish and S&P does not currently have a STARS rating for TS. If you are looking for a hedged play on TS the stock seems like it could be a candidate for a September out-of-the-money bear-call credit spread above the 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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