ADC Telecomunications (ADCT) NewsBite - ADCT Rises on Revised Guidance

Posted: Wednesday, August 12, 2009 11:04 AM EDT

ADC Telecomunications (NasdaqNM: ADCT) opened at $7.84. So far today, the stock has hit a low of $7.80 and a high of $8.45. ADCT is now trading at $8.40, up $1.50 (21.74%). Over the last 52 weeks the stock has ranged from a low of $2.47 to a high of $10.94. ADCT shares are rising today after the company upped its third-quarter EPS forecast to between 5 and 10 cents on revenue of $280 million. The company had previously forecast EPS between a loss of 4 cents to a profit of 4 cents on revenue of $265 million to $290 million. Technical indicators for the stock are bullish and S&P gives ADCT a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on ADCT the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 7.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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