General Electric (GE) NewsBite - GE Falls on NBC Sale Rumors

Posted: Thursday, October 01, 2009 9:52 AM EDT

General Electric (NYSE: GE) opened at $16.31. So far today, the stock has hit a low of $16.11 and a high of $16.39. GE is now trading at $16.17, down $0.25 (-1.52%). Over the last 52 weeks the stock has ranged from a low of $5.73 to a high of $25.75. Shares of GE are trading lower this morning on rumors that the company is in talks with Comcast (CMCSA) that could lead to the sale of part or all of NBC Universal. NBC, GE, and CMCSA declined to comment on the report. Technical indicators for the stock are neutral and S&P gives GE a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on GE the stock seems like it could be a candidate for a November out-of-the-money bear-call credit spread above the 18 range. [ABR-Seven Summits Strategic Investments NewsBite]

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