Motorola (MOT) NewsBite - Nokia (NOK) Earnings Pull Down MOT

Posted: Thursday, October 15, 2009 10:18 AM EDT

Motorola (NYSE: MOT) opened at $8.32. So far today, the stock has hit a low of $8.12 and a high of $8.34. MOT is now trading at $8.17, down $0.24 (-2.85%). 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 this morning after competitor Nokia (NOK) reported a surprise third-quarter loss of 0.15 euros per share. Analysts had expected a profit of 0.09 euros per share from NOK. This could be a bad sign for MOT, who reports earnings tomorrow morning. Analysts are looking for a profit of 18 cents per share on revenue of $14.25 billion. 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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