Salesforce.com (CRM) NewsBite - CRM Downgraded By Morgan Stanley
Posted: Wednesday, March 25, 2009 11:12 AM EDT
By: Market Intelligence Center Staff
Salesforce.com (CRM) was downgraded today by analysts at Morgan Stanley and the stock is now at $33.73, down $1.19 (-3.41%) on volume of 1,189,536 shares traded. The analysts downgraded the stock to Underweight from Equalweight. Over the last 52 weeks the stock has ranged from a low of $20.82 to a high of $75.21. Salesforce.com stock has been showing support around $33.27 and resistance in the $37.39 range. Technical indicators for the stock are neutral and S&P gives CRM a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on CRM the stock seems like it could be a candidate for a May out-of-the-money bear-call credit spread above the 40 range. [ABR-Seven Summits Strategic Investments NewsBite]
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