BP (BP) NewsBite - BP Rises on Q3 Earnings
Posted: Tuesday, October 27, 2009 10:08 AM EDT
By: Market Intelligence Center Staff
BP (NYSE: BP) opened at $57.93. So far today, the stock has hit a low of $57.76 and a high of $58.07. BP is now trading at $57.88, up $2.40 (4.33%). Over the last 52 weeks the stock has ranged from a low of $33.70 to a high of $57.35. BP reported earnings this morning, posting a third-quarter profit of $5.34 billion. Excluding one-time items, BP earned $4.98 billion, easily topping analysts' forecasts of $3.2 billion. Technical indicators for the stock are neutral and S&P gives BP a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on BP the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 50 range. [ABR-Seven Summits Strategic Investments NewsBite]
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