Rambus (RMBS) NewsBite - RMBS Higher on Court Ruling

Posted: Wednesday, March 04, 2009 10:14 AM EDT

Rambus (NasdaqNM: RMBS) opened at $8.63. So far today, the stock has hit a low of $8.28 and a high of $8.89. RMBS is now trading at $8.45, up $0.73 (9.46%). Over the last 52 weeks the stock has ranged from a low of $4.95 to a high of $26.41. RMBS shares are rising today after a federal court judge in San Francisco upheld an earlier jury decision in favor of the company in a patent dispute with competitor Hynix Semiconductor. Technical indicators for the stock are bearish and S&P does not currently have a STARS rating for RMBS. If you are looking for a hedged play on RMBS the stock seems like it could be a candidate for an April out-of-the-money bull-put credit spread below the 6 range. [ABR-Seven Summits Strategic Investments NewsBite]

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