ADC Telecomunications (ADCT) NewsBite - ADCT Reports Q3 Loss

Posted: Wednesday, September 02, 2009 10:59 AM EDT

ADC Telecomunications (NasdaqNM: ADCT) opened at $7.70. So far today, the stock has hit a low of $7.64 and a high of $8.20. ADCT is now trading at $7.83, down $0.46 (-5.55%). Over the last 52 weeks the stock has ranged from a low of $2.47 to a high of $10.60. ADCT reported earnings last night posting a third-quarter loss of $0.8 million, or 1 cent per share. Excluding items, ADCT earned 17 cents per share on revenue of $283.4 million. Analysts expected a profit of 14 cents per share. 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 bear-call credit spread above the 10 range. [ABR-Seven Summits Strategic Investments NewsBite]

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