Wyeth (WYE) NewsBite - FDA Approval Boosts WYE

Posted: Thursday, November 13, 2008 11:26 AM EDT

Wyeth (NYSE: WYE) opened at $32.68. So far today, the stock has hit a low of $32.68 and a high of $34.29. WYE is now trading at $33.89, up $1.45 (4.47%). Over the last 52 weeks the stock has ranged from a low of $28.06 to a high of $49.80. Shares of WYE are rising today after the FDA approved the usage of the company's PREMARIN to treat moderate to severe postmenopausal dyspareunia. Technical indicators for the stock are neutral and S&P gives WYE a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on WYE the stock seems like it could be a candidate for a December out-of-the-money bull-put credit spread below the 27.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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