Altria Group (MO) NewsBite - MO Revenue Disappoints
Posted: Wednesday, October 21, 2009 10:37 AM EDT
By: Market Intelligence Center Staff
Altria Group (NYSE: MO) opened at $18.37. So far today, the stock has hit a low of $18.11 and a high of $18.43. MO is now trading at $18.22, down $0.44 (-2.36%). Over the last 52 weeks the stock has ranged from a low of $14.34 to a high of $20.19. MO reported an adjusted third-quarter profit this morning 48 cents per share, topping analysts' forecasts by a penny. However, shares of the stock are declining, as the company's third-quarter revenue less excise taxes fell to $4.32 billion, missing analysts' projections of $4.66 billion. Technical indicators for the stock are bullish and S&P gives MO a positive 5 STARS (out of 5) strong buy ranking. If you are looking for a hedged play on MO the stock seems like it could be a candidate for a June out-of-the-money bear-call credit spread above the 20 range. [ABR-Seven Summits Strategic Investments NewsBite]
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