Posted: Monday, January 26, 2009 10:47 AM ET
Weatherford International (NYSE: WFT) opened at $11.80. So far today, the stock has hit a low of $11.23 and a high of $11.90. WFT is now trading at $11.69, up $0.84 (7.74%). Over the last 52 weeks the stock has ranged from a low of $7.75 to a high of $49.98. Shares of WFT are rising this morning after the company announced its fourth-quarter profit rose 5 percent to $348.1 million, or 50 cents per share, on revenue of $2.63 billion. WFT's adjusted profit of 53 cents per share beat analysts' estimates of 52 cents per share. Technical indicators for the stock are bullish and S&P gives WFT a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on WFT the stock seems like it could be a candidate for a May out-of-the-money bull-put credit spread below the 7.50 range. [ABR-Seven Summits Strategic Investments NewsBite]
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