Seagate Technology (STX) NewsBite - STX Rises on Revised Guidance

Posted: Wednesday, September 23, 2009 9:51 AM EDT

Seagate Technology (NasdaqNM: STX) opened at $16.10. So far today, the stock has hit a low of $15.74 and a high of $16.16. STX is now trading at $15.75, up $0.07 (0.44%). Over the last 52 weeks the stock has ranged from a low of $2.98 to a high of $15.80. STX shares are trading higher this morning after the company said it expects first-quarter revenue to come in at the high end of its original forecast of $2.4 to $2.6 billion. Analysts are expecting STX to report revenue of $2.54 billion. Technical indicators for the stock are neutral and S&P gives STX a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on STX the stock seems like it could be a candidate for a November out-of-the-money bull-put credit spread below the 14 range. [ABR-Seven Summits Strategic Investments NewsBite]

Click Symbol For More News On: (STX)