Time Warner (TWX) NewsBite - TWX Rises on Market Momentum

Posted: Wednesday, July 01, 2009 10:04 AM EDT

Time Warner (NYSE: TWX) opened at $25.29. So far today, the stock has hit a low of $25.29 and a high of $25.86. TWX is now trading at $25.80, up $0.61 (2.42%). Over the last 52 weeks the stock has ranged from a low of $17.81 to a high of $50.70. Shares of TWX are trading higher with the broader market this morning, as a better-than-expected jobs report bolstered investors' hopes that the economy is improving. ADP reported that private sector employment fell by 473,000 in June, compared to a 532,000-job decrease in May. Technical indicators for the stock are neutral and S&P gives TWX a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on TWX the stock seems like it could be a candidate for an October out-of-the-money bull-put credit spread below the 20 range. [ABR-Seven Summits Strategic Investments NewsBite]

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