American Axle and Manufacturing (AXL) NewsBite - Ford (F) Profit Lifts AXL

Posted: Monday, November 02, 2009 9:50 AM EDT

American Axle and Manufacturing (NYSE: AXL) opened at $6.28. So far today, the stock has hit a low of $6.01 and a high of $6.39. AXL is now trading at $6.03, up $0.03 (0.5%). Over the last 52 weeks the stock has ranged from a low of $.26 to a high of $8.89. Shares of AXL are rising with other auto part manufacturers this morning after Ford (F) reported a surprise $1 billion (or 26 cents per share) profit, topping analysts' estimates of 12-cent loss. This could be a good sign for AXL. Technical indicators for the stock are neutral and S&P does not currently have a STARS rating for AXL. If you are looking for a hedged play on AXL the stock seems like it could be a candidate for a December out-of-the-money bull-put credit spread below the 5 range. [ABR-Seven Summits Strategic Investments NewsBite]

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