Dell (DELL) NewsBite - DELL Agrees to Buy Perot Systems
Posted: Monday, September 21, 2009 9:52 AM EDT
By: Market Intelligence Center Staff
Dell (NasdaqNM: DELL) opened at $15.88. So far today, the stock has hit a low of $15.81 and a high of $16.13. DELL is now trading at $16.07, down $0.61 (-3.66%). Over the last 52 weeks the stock has ranged from a low of $7.84 to a high of $18.44. DELL shares are declining this morning after the company agreed to purchase Perot Systems (PER) in a $3.9 billion cash deal. DELL hopes the acquisition will give it entre into the technology services business, which offers stable, recurring revenue streams and higher margins than computer hardware. Technical indicators for the stock are neutral and S&P gives DELL a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on DELL the stock seems like it could be a candidate for a January out-of-the-money bear-call credit spread above the 19 range. [ABR-Seven Summits Strategic Investments NewsBite]
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