Career Education (CECO) NewsBite - CECO Earnings Disappoint

Posted: Thursday, May 07, 2009 9:59 AM EDT

Career Education (NasdaqNM: CECO) opened at $18.95. So far today, the stock has hit a low of $17.95 and a high of $18.95. CECO is now trading at $18.71, down $2.47 (-11.64%). Over the last 52 weeks the stock has ranged from a low of $12.44 to a high of $26.53. CECO shares are trading lower this morning after the company posted a first-quarter profit of $23.26 million or 26 cents per share. Excluding one-time items, CECO earned 32 cents per share, missing analysts' forecasts by a penny. Technical indicators for the stock are neutral and S&P gives CECO a neutral 3 STARS (out of 5) hold 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 bear-call credit spread above the 22.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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