Cal Maine Foods (NasdaqNM: CALM) NewsBite - CALM posts loss, skips dividend

Posted: Monday, September 28, 2009 12:04 PM EDT

Cal Maine Foods (NasdaqNM: CALM) opened at $25.31. So far today, the stock has hit a low of $24.90 and a high of $27.89. CALM is now trading at $27.67, down $.12 (-0.41%). The stock hit its 52-Week high of $38.89 in September of 2008 and set its 52-Week low of $17.01 in March. The stock stock is trading slightly lower today after the company announced Q1 results this morning, posting a loss of 0.16 per share. Total losses were $3.8M. CALM, which has had a 2% yield over the past year will skip paying a dividend this quarter because of the loss. Technical indicators for the stock are bearish and S&P does not currently have a STARS rating for CALM. If you are looking for a hedged play on CALM the stock seems like it could be a candidate for an October out-of-the-money bear-call credit spread above the 30 range. [ABR-Seven Summits Strategic Investments NewsBite]

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