Intel (INTC) NewsBite - INTC Falls on Downgrade

Posted: Tuesday, November 03, 2009 9:54 AM EDT

Intel (NasdaqNM: INTC) opened at $18.64. So far today, the stock has hit a low of $18.45 and a high of $18.65. INTC is now trading at $18.50, down $0.51 (-2.68%). Over the last 52 weeks the stock has ranged from a low of $12.05 to a high of $21.27. INTC was downgraded by analysts at Morgan Stanley this morning to Equal Weight from Overweight. The analysts added in a note to investors that semiconductor inventories are rising, as measured in dollars. This could be a bad sign for Intel. Technical indicators for the stock are bullish and S&P gives INTC a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on INTC the stock seems like it could be a candidate for a January out-of-the-money bear-call credit spread above the 21 range. [ABR-Seven Summits Strategic Investments NewsBite]

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