Vmware (VMW) NewsBite - VMW Downgraded By Jefferies & Co.
Posted: Monday, August 10, 2009 9:51 AM EDT
By: Market Intelligence Center Staff
Vmware (VMW) was downgraded today by analysts at Jefferies & Co. and the stock is now at $31.83, down $0.94 (-2.86%) on volume of 92,861 shares traded. The brokerage reduced the stock to Underperform from Hold. Over the last 52 weeks the stock has ranged from a low of $17.25 to a high of $41.86. Vmware stock has been showing support around $32.12 and resistance in the $33.64 range. Technical indicators for the stock are bearish and S&P gives VMW a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on VMW the stock seems like it could be a candidate for a September out-of-the-money bear-call credit spread above the 36 range. [ABR-Seven Summits Strategic Investments NewsBite]
CLICK HERE: FREE Vmware (VMW) Stock ReportSee what our analysts have uncovered about Vmware (VMW).