Kraft Foods (KFT) NewsBite - KFT Lower Ahead Of Third Quarter Earnings
Posted: Tuesday, November 03, 2009 1:51 PM EDT
By: Market Intelligence Center Staff
Kraft Foods (NYSE: KFT) opened at $27.65. So far today, the stock has hit a low of $27.40 and a high of $27.70. KFT is now trading at $27.50, down $0.14 (-0.51%). The stock hit its 52-Week high of $30.53 in November and set its 52-Week low of $20.81 in March. Kraft is trading slightly lower today ahead of this afternoon's third quarter earnings release. The company is expected to report third quarter earnings of 48 cents per share. For the same period last year the company reported earnings of 44 cents per share. Technical indicators for the stock are bearish and S&P gives KFT a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on KFT the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 25 range. [ABR-Seven Summits Strategic Investments NewsBite]
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