Digital River (DRIV) NewsBite - DRIV Lower on Revised Guidance
Posted: Wednesday, October 29, 2008 1:34 PM EDT
By: Market Intelligence Center Staff
Digital River (NasdaqNM: DRIV) opened at $23.61. So far today, the stock has hit a low of $21.50 and a high of $23.91. DRIV is now trading at $23.60, down $1.56 (-6.20%). Over the last 52 weeks the stock has ranged from a low of $22.59 to a high of $53.44. Shares of DRIV are falling today after the company cut its 2008 earnings estimate to a range between $1.82 and $1.86 per share, from a previous estimate of $2 per share. The company also cut its fourth-quarter EPS estimate to EPS 43 to 48 cents, lower than the 59 cents expected by analysts. Technical indicators for the stock are bearish and S&P does not currently have a STARS rating for DRIV. If you are looking for a hedged play on DRIV the stock seems like it could be a candidate for a December out-of-the-money bear-call credit spread above the 30 range. [ABR-Seven Summits Strategic Investments NewsBite]
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