UBS (NYSE: UBS) NewsBite - UBS Drops on Economy Concerny

Posted: Monday, December 01, 2008 11:59 AM EDT

UBS (NYSE: UBS) opened at $11.41. So far today, the stock has hit a low of $10.98 and a high of $11.50. UBS is now trading at $11.12, down $1.62 (-12.72%). The stock hit its 52-Week high of $51.89 in December of last year and set its 52-Week low of $8.33 in November. Financial stocks including UBS are down big today as economic concerns are weighing heavily on that sector and the overall market in general as well. Technical indicators for the stock are neutral and S&P gives UBS a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on UBS the stock seems like it could be a candidate for a January out-of-the-money bear-call credit spread above the 15 range. [ABR-Seven Summits Strategic Investments NewsBite]

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