LG Philips (LPL) NewsBite - Oversupply Worries Put Pressure on LPL

Posted: Thursday, October 15, 2009 10:06 AM EDT

LG Philips (NYSE: LPL) opened at $14.28. So far today, the stock has hit a low of $13.45 and a high of $14.28. LPL is now trading at $13.60, down $1.05 (-7.17%). Over the last 52 weeks the stock has ranged from a low of $5.33 to a high of $15.85. LPL shares are trading lower this morning after the company said the the global flat-panel industry has recently seen an oversupply. This could be a bad sign for LPL, even though company CFO James Jeong said "the oversupply (condition) isn't as bad as it was in the past." Technical indicators for the stock are neutral and S&P gives LPL a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on LPL the stock seems like it could be a candidate for a January out-of-the-money bear-call credit spread above the 17.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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