Colgate Palmolive (CL) NewsBite - Colgate Rising On Strong Profits

Posted: Friday, October 30, 2009 11:50 AM EDT

Colgate Palmolive (NYSE: CL) opened at $78.98. So far today, the stock has hit a low of $78.08 and a high of $80.10. CL is now trading at $79.59, up $0.65 (0.82%). The stock hit its 52-Week high of $80.41 last week and set its 52-Week low of $54.51 in March. Colgate is trading up near its 52 week high today after posting a 18% profit jump yesterday. Technical indicators for the stock are bullish and S&P gives CL a positive 5 STARS (out of 5) strong buy ranking. If you are looking for a hedged play on CL the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 70 range. [ABR-Seven Summits Strategic Investments NewsBite]

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