AFLAC (AFL) NewsBite - AFL Lower on Recession Worries

Posted: Wednesday, October 22, 2008 11:00 AM EDT

AFLAC (NYSE: AFL) opened at $42.11. So far today, the stock has hit a low of $40.41 and a high of $42.46. AFL is now trading at $41.32, down $1.65 (-3.84%). Over the last 52 weeks the stock has ranged from a low of $32.73 to a high of $68.81. Shares of AFL are declining with the broader market this morning after weak quarterly earnings from a number of large companies, including Wachovia Corp. (WB), AT&T (T), and Boeing (BA), reignited investors' fears of a prolonged recession. Technical indicators for the stock are bullish and S&P gives AFL a positive 5 STARS (out of 5) strong buy ranking. If you are looking for a hedged play on AFL the stock seems like it could be a candidate for a November out-of-the-money bear-call credit spread above the 50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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