Novellus Systems (NVLS) NewsBite - NVLS Hits 52-Week High On Earnings And Upgrade
Posted: Thursday, October 22, 2009 12:36 PM EDT
By: Market Intelligence Center Staff
Novellus Systems (NasdaqNM: NVLS) hit a new 52-Week high of $22.07 so far today. Currently the stock is up $0.45 (2.08%) to $22.06 on 1,930,160 shares traded. Today's high is up $11.80 from a 52-Week Low of $10.26. Novellus Systems stock has been showing support around $21.21 and resistance in the $22.19 range. Technical indicators for the stock are bullish and S&P gives NVLS a positive 4 STARS (out of 5) buy ranking. The stock is trading up to a new 52 week high on better than expected earnings this morning and am upgrade by
Deutsche Bank to Hold from Sell. The company reported a loss in the third quarter of 3 cents per share, better than the 4 penny loss that analysts had been expecting to see. If you are looking for a hedged play on NVLS the stock seems like it could be a candidate for a December out-of-the-money bull-put credit spread below the 20 range. [ABR-Seven Summits Strategic Investments NewsBite]
CLICK HERE: FREE Novellus Systems (NVLS) Stock ReportSee what our analysts have uncovered about Novellus Systems (NVLS).