VeriSign (VRSN) NewsBite - VRSN Jumps on Earnings

Posted: Friday, May 08, 2009 10:57 AM EDT

VeriSign (NasdaqNM: VRSN) opened at $23.16. So far today, the stock has hit a low of $22.25 and a high of $23.21. VRSN is now trading at $22.83, up $2.00 (9.59%). Over the last 52 weeks the stock has ranged from a low of $16.23 to a high of $42.50. VRSN shares are trading higher today after the company reported a first-quarter profit of $65.0 million, or 34 cents per share, easily besting analyst projections of 28 cents per share. Technical indicators for the stock are neutral and S&P gives VRSN a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on VRSN the stock seems like it could be a candidate for a September out-of-the-money bull-put credit spread below the 17.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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