Black & Decker (BDK) NewsBite - BDK Upgraded By Longbow After Acquisition News

Posted: Tuesday, November 03, 2009 12:26 PM EDT

Black & Decker (BDK) was upgraded today by analysts at Longbow and the stock is now at $59.11, up $11.77 (24.86%) on volume of 11,216,715 shares traded. Longbow upgraded the stock today to Neutral from Sell. Yesterday it was announced that Stanley Tools (SWK) would be acquiring the company. Over the last 52 weeks the stock has ranged from a low of $20.10 in March to a high of $52.49 in November. Black & Decker stock has been showing support around $45.35 and resistance in the $49.17 range. Technical indicators for the stock are neutral and S&P gives BDK a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on BDK 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]

Click Symbol For More News On: (BDK)