Harman International Industries (HAR) 11/2/09 PriceWatch Alert Targets 12.50% Downside Protection
Posted: Monday, November 02, 2009 8:32 AM EDT
By: Market Intelligence Center Staff
Harman International Industries (NYSE: HAR) ended the last trading session at $37.61. So far the stock has hit a 52-week low of $9.17 and 52-week high of $40.33. Harman International Industries stock has been showing support around 35.33 and resistance in the 41.47 range. Technical indicators for the stock are Bullish and S&P gives HAR a very weak 1 STAR (out of 5) strong sell rating. HAR appears on the Investors Observer Stocks In The News list. HAR reported a first-quarter loss Thursday of $9 million or 14 cents per share, but the company's adjusted earnings came in at 5 cents per share. Analysts had forecast a loss of 23 cents per share. For a hedged play on this stock, look at a Jan '10 35 covered call (HAR AU) for a net debit in the $32.91 area. That is also the break even stock price for this trade. This covered call has a 75 day duration, provides 12.50% downside protection and a 6.35% assigned return rate for a 30.91% annualized return rate (comparison purposes only). Harman International Industries does not pay dividends at this time. [ABR-Seven Summits Research]
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