Procter and Gamble (PG) NewsBite - PG Rises On Q1 Earnings

Posted: Thursday, October 29, 2009 10:06 AM EDT

Procter and Gamble (NYSE: PG) opened at $59.39. So far today, the stock has hit a low of $59.31 and a high of $59.98. PG is now trading at $59.90, up $2.67 (4.67%). Over the last 52 weeks the stock has ranged from a low of $43.93 to a high of $66.82. PG reported first-quarter earnings this morning, posting a profit of $3.31 billion, or $1.06 per share, on revenue of $19.81 billion. Analysts had forecast a profit of 99 cents per share on revenue of $19.83 billion. Technical indicators for the stock are bullish and S&P gives PG a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on PG 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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