Digital River (DRIV) NewsBite - DRIV Rises on Q3 Earnings

Posted: Wednesday, November 04, 2009 11:09 AM EDT

Digital River (NasdaqNM: DRIV) opened at $24.84. So far today, the stock has hit a low of $23.22 and a high of $24.84. DRIV is now trading at $24.10, up $1.78 (7.97%). Over the last 52 weeks the stock has ranged from a low of $16.88 to a high of $41.20. DRIV shares are on the move today after the company posted an adjusted third-quarter profit of 42 cents per share, beating analysts' forecasts by a penny. On the news, Collins Stewart upgraded the stock to Buy from Hold. Technical indicators for the stock are bearish and S&P does not currently have a STARS rating for DRIV. If you are looking for a hedged play on DRIV the stock seems like it could be a candidate for a March out-of-the-money bull-put credit spread below the 20 range. [ABR-Seven Summits Strategic Investments NewsBite]

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