VeriSign (VRSN) NewsBite - VRSN Earnings Disappoint

Posted: Friday, August 07, 2009 9:57 AM EDT

VeriSign (NasdaqNM: VRSN) opened at $19.99. So far today, the stock has hit a low of $18.64 and a high of $20.06. VRSN is now trading at $19.16, down $1.40 (-6.81%). Over the last 52 weeks the stock has ranged from a low of $16.23 to a high of $33.33. VRSN reported earnings last night, posting a second-quarter profit of $34.87 million or 18 cents per share. Excluding items, VRSN earned 31 cents per share, missing analysts' estimates by a penny. Technical indicators for the stock are bullish and S&P gives VRSN a positive 5 STARS (out of 5) strong buy ranking. If you are looking for a hedged play on VRSN the stock seems like it could be a candidate for a December out-of-the-money bear-call credit spread above the 25 range. [ABR-Seven Summits Strategic Investments NewsBite]

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