Motorola (NYSE: MOT) NewsBite - RIMM Forecast Pulls Down MOT

Posted: Friday, September 25, 2009 11:07 AM EDT

Motorola (NYSE: MOT) opened at $8.18. So far today, the stock has hit a low of $8.05 and a high of $8.26. MOT is now trading at $8.24, down $.10 (-1.2%). Over the last 52 weeks the stock has ranged from a low of $2.98 to a high of $9.45. Shares of MOT are declining with other handset makers this morning after competitor Research in Motion (RIMM) forecast third-quarter revenue below analysts' estimates. This could be a bad sign for MOT. Technical indicators for the stock are neutral and S&P gives MOT a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on MOT 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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