ASML (ASML) NewsBite - ASML Rises on Production Cuts

Thursday, December 18, 2008 10:35 AM EDT

ASML (NasdaqNM: ASML) opened at $17.67. So far today, the stock has hit a low of $17.27 and a high of $17.99. ASML is now trading at $17.43, up $0.09 (0.52%). Over the last 52 weeks the stock has ranged from a low of $12.64 to a high of $33.30. ASML shares are trading higher today after said it plans to shut down production facilities for a total of four weeks during the first and second quarters of 2009. The company also cut its fourth-quarter sales forecast to a range of 450 to 500 million euros, from a previous forecast of 530 million euros. Technical indicators for the stock are neutral and S&P gives ASML a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on ASML the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 15 range. [ABR-Seven Summits Strategic Investments NewsBite]

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