Rambus (RMBS) NewsBite - RMBS Posts Q2 Loss

Posted: Friday, July 24, 2009 11:26 AM EDT

Rambus (NasdaqNM: RMBS) opened at $16.65. So far today, the stock has hit a low of $16.11 and a high of $16.80. RMBS is now trading at $16.55, down $0.59 (-3.44%). Over the last 52 weeks the stock has ranged from a low of $4.95 to a high of $19.65. RMBS reported a second-quarter loss last night of $24 million, or 23 cents per share, on revenue of $27.0 million. 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 a September out-of-the-money bear-call credit spread above the 20 range. [ABR-Seven Summits Strategic Investments NewsBite]

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