UBS (UBS) NewsBite - UBS Hires New Chief For Its Domestic Wealth Management Busniesses

Posted: Tuesday, October 27, 2009 1:30 PM EDT

UBS (NYSE: UBS) opened at $17.63. So far today, the stock has hit a low of $17.34 and a high of $17.70. UBS is now trading at $17.41, down $0.10 (-0.56%). The stock hit its 52-Week high of $19.32 in September and set its 52-Week low of $7.04 in March. The company announced that it had hired Robert McCann, formerly with Merrill Lynch to run its domestic wealth management businesses in the United States and Canada. Technical indicators for the stock are neutral and S&P gives UBS a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on UBS the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 15 range. [ABR-Seven Summits Strategic Investments NewsBite]

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