Career Education (CECO) NewsBite - CECO Higher on Q4 Earnings

Posted: Friday, February 20, 2009 10:03 AM EDT

Career Education (NasdaqNM: CECO) opened at $21.75. So far today, the stock has hit a low of $20.14 and a high of $21.75. CECO is now trading at $21.50, up $1.84 (9.36%). Over the last 52 weeks the stock has ranged from a low of $11.57 to a high of $23.57. CECO shares are rising this morning after the company posted a fourth-quarter profit of $31.2 million, or 35 cents per share, easily beating analysts' projections of 20 cents per share. Technical indicators for the stock are bearish and S&P gives CECO a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on CECO the stock seems like it could be a candidate for a July out-of-the-money bull-put credit spread below the 12.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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