HSBC PLC (HBC) NewsBite - HBC Rises With Financial Sector

Posted: Monday, March 23, 2009 11:11 AM EDT

HSBC PLC (NYSE: HBC) opened at $29.09. So far today, the stock has hit a low of $29.05 and a high of $29.65. HBC is now trading at $29.65, up $3.42 (13.04%). Over the last 52 weeks the stock has ranged from a low of $22.89 to a high of $88.15. Shares of HBC are trading higher this morning with the rest of the financial sector this morning, as investors have reacted favorably to the Treasury Department's plan to help relieve banks of toxic assets. Technical indicators for the stock are neutral and S&P gives HBC a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on HBC the stock seems like it could be a candidate for a May out-of-the-money bull-put credit spread below the 22.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

Click Symbol For More News On: (HBC)