VeriSign (VRSN) NewsBite - VRSN Revenue Misses Forecasts

Posted: Friday, November 06, 2009 11:20 AM EDT

VeriSign (NasdaqNM: VRSN) opened at $22.13. So far today, the stock has hit a low of $21.50 and a high of $22.44. VRSN is now trading at $22.10, down $1.90 (-7.92%). Over the last 52 weeks the stock has ranged from a low of $16.23 to a high of $24.99. VRSN reported a third-quarter adjusted profit last night of 33 cents per share, topping analysts' forecasts by a penny. However, shares of the stock are declining, as VRSN's revenue came to $258 million, missing analysts' forecasts of $259 million. Technical indicators for the stock are bullish and S&P gives VRSN a positive 5 STARS (out of 5) strong buy ranking. If you are looking for a hedged play on VRSN the stock seems like it could be a candidate for a January out-of-the-money bear-call credit spread above the 25 range. [ABR-Seven Summits Strategic Investments NewsBite]

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