Rambus (RMBS) NewsBite - EU Drops RMBS Antitrust Probe
Posted: Friday, June 12, 2009 10:09 AM EDT
By: Market Intelligence Center Staff
Rambus (NasdaqNM: RMBS) opened at $16.70. So far today, the stock has hit a low of $16.55 and a high of $17.50. RMBS is now trading at $17.20, up $2.11 (13.98%). Over the last 52 weeks the stock has ranged from a low of $4.95 to a high of $21.87. RMBS shares are rising this morning after the company said European Union antitrust regulators have agreed to drop a probe and any fines if the company reduces its royalty rates for DRAM memory chip patents. The European Commission had charged RMBS with setting exorbitant royalties for DRAM patents. Technical indicators for the stock are bullish and S&P does not currently have a STARS rating for RMBS. If you are looking for a hedged play on RMBS the stock seems like it could be a candidate for an August out-of-the-money bull-put credit spread below the 12 range. [ABR-Seven Summits Strategic Investments NewsBite]
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