Old Dominion Freight Line (ODFL) NewsBite - ODFL Falls on Revised Guidance

Posted: Tuesday, December 23, 2008 10:06 AM EDT

Old Dominion Freight Line (NasdaqNM: ODFL) opened at $23.75. So far today, the stock has hit a low of $23.00 and a high of $23.75. ODFL is now trading at $23.09, down $1.83 (-7.34%). Over the last 52 weeks the stock has ranged from a low of $18.47 to a high of $40.09. Shares of ODFL are trading lower this morning after the company cut its 2008 EPS forecast to a range between $1.73 and $1.76, down from a previous range between $1.90 and $1.95. Analysts are expecting 2008 EPS of $1.85. Technical indicators for the stock are bullish and S&P gives ODFL a positive 5 STARS (out of 5) strong buy ranking. If you are looking for a hedged play on ODFL the stock seems like it could be a candidate for a February out-of-the-money bear-call credit spread above the 30 range. [ABR-Seven Summits Strategic Investments NewsBite]

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