Priceline com (PCLN) NewsBite - PCLN Lower on Downgrade

Friday, October 31, 2008 9:56 AM EDT

Priceline com (NasdaqNM: PCLN) opened at $53.20. So far today, the stock has hit a low of $52.74 and a high of $54.04. PCLN is now trading at $52.84, down $3.23 (-5.76%). Over the last 52 weeks the stock has ranged from a low of $45.15 to a high of $144.34. Shares of PCLN are trading lower this morning after a Banc of America Securities analyst downgraded the stock to "Neutral" from "Buy." Technical indicators for the stock are neutral and S&P gives PCLN a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on PCLN the stock seems like it could be a candidate for a November out-of-the-money bear-call credit spread above the 70 range. [ABR-Seven Summits Strategic Investments NewsBite]

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