PACCAR (PCAR) NewsBite - PCAR Falls on Recession Fears

Posted: Wednesday, December 03, 2008 10:48 AM EDT

PACCAR (NasdaqNM: PCAR) opened at $25.05. So far today, the stock has hit a low of $24.28 and a high of $25.99. PCAR is now trading at $25.98, down $0.41 (-1.55%). Over the last 52 weeks the stock has ranged from a low of $21.96 to a high of $58.09. Shares of PCAR are trading lower with the broader economy today after a weak productivity report from the Labor Department and a cut forecast from Research In Motion (RIMM) reignited investors' fears of an extended recession. Technical indicators for the stock are neutral and S&P gives PCAR a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on PCAR 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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