Sony (SNE) NewsBite - SNE Rises on Executive's Comments

Posted on Thursday, October 09, 2008 11:38 AM

Sony (NYSE: SNE) opened at $25.37. So far today, the stock has hit a low of $24.39 and a high of $25.49. SNE is now trading at $24.70, up $0.80 (3.36%). Over the last 52 weeks the stock has ranged from a low of $23.44 to a high of $57.19. Shares of SNE are rising today after company executive Kazuo Hirai said at the Tokyo Games Show that the company is on track to meet its sales goals by the end of the fiscal year on March 31, 2009. He said that the weak economy has not affected SNE as much as other firms. Technical indicators for the stock are neutral and S&P gives SNE a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on SNE the stock seems like it could be a candidate for a November out-of-the-money bull-put credit spread below the 20 range. [ABR-Seven Summits Strategic Investments NewsBite]