Siemens (SI) NewsBite - Nokia Siemens May Acquire Nortel Assets

Posted: Tuesday, May 19, 2009 10:19 AM EDT

Siemens Aktiengesellschaft (NYSE: SI) opened at $73.11. So far today, the stock has hit a low of $72.90 and a high of $73.60. SI is now trading at $73.40, up $2.67 (3.77%). Over the last 52 weeks the stock has ranged from a low of $43.89 to a high of $123.81. Nokia Siemens Network, a joint venture between Nokia Corp. (NOK) and SI, is interested in acquiring some assets of Nortel Networks Corp. (NT) in order to boost its presence in the American mobile phone market, according to a statement from company COO Mika Vehvilainen. Technical indicators for the stock are neutral and S&P gives SI a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on SI the stock seems like it could be a candidate for a July out-of-the-money bull-put credit spread below the 55 range. [ABR-Seven Summits Strategic Investments NewsBite]

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