Google (GOOG) NewsBite - GOOG Rises On CEO's Comments

Thursday, September 18, 2008 10:16 AM EDT

Google (NasdaqNM: GOOG) opened at $423.02. So far today, the stock has hit a low of $422.60 and a high of $429.89. GOOG is now trading at $423.60, up $9.11 (2.20%). Over the last 52 weeks the stock has ranged from a low of $406.38 to a high of $747.24. Shares of GOOG are trading higher this morning after company CEO Eric Schmidt said the company will not delay its advertising partnership with Yahoo Inc. (YHOO) any longer. The companies had put the partnership on hold to give government regulators time to review the deal, but now say that any more delay would result in the two companies losing money. Technical indicators for the stock are bullish and S&P gives GOOG a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on GOOG the stock seems like it could be a candidate for a September out-of-the-money bull-put credit spread below the 400 range. [ABR-Seven Summits Strategic Investments NewsBite]

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