SAP AG (SAP) NewsBite - Sales Warning Pulls Down SAP
Posted: Wednesday, October 28, 2009 11:33 AM EDT
By: Market Intelligence Center Staff
SAP AG (NYSE: SAP) opened at $47.22. So far today, the stock has hit a low of $47.00 and a high of $47.48. SAP is now trading at $46.99, down $4.19 (-8.19%). Over the last 52 weeks the stock has ranged from a low of $29.31 to a high of $52.73. Shares of SAP are declining today after the company said it now expects fiscal-2009 software and software-related service revenues to fall 6 to 8 percent, down from a previous forecast of a 4 to 6 percent contraction. This could be a bad sign for ORCL. Technical indicators for the stock are bullish and S&P gives SAP a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on SAP the stock seems like it could be a candidate for a March out-of-the-money bear-call credit spread above the 55 range. [ABR-Seven Summits Strategic Investments NewsBite]
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