Whole Foods (WFMI) NewsBite - WFMI Forecast Disappoints Investors
Posted: Thursday, November 05, 2009 10:09 AM EDT
By: Market Intelligence Center Staff
Whole Foods Market (NasdaqNM: WFMI) opened at $28.91. So far today, the stock has hit a low of $28.11 and a high of $31.46. WFMI is now trading at $28.86, down $3.20 (-9.98%). Over the last 52 weeks the stock has ranged from a low of $7.04 to a high of $34.40. WFMI reported a fourth-quarter profit last night of $28.67 million, or 20 cents per share, on revenue of $1.83 billion, compared to analysts' forecasts of 18 cents per share on revenue of $1.84 billion. However, WFMI also forecast fiscal-2010 EPS of $1.05 to $1.10, missing analysts' forecasts of $1.11. Technical indicators for the stock are bearish and S&P gives WFMI a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on WFMI the stock seems like it could be a candidate for a January out-of-the-money bear-call credit spread above the 35 range. [ABR-Seven Summits Strategic Investments NewsBite]
CLICK HERE: FREE Whole Foods Market (WFMI) Stock ReportSee what our analysts have uncovered about Whole Foods Market (WFMI).