SandRidge Energy (SD) NewsBite - SD Falls on Q3 Loss

Posted: Friday, November 06, 2009 11:26 AM EDT

SandRidge Energy (NYSE: SD) opened at $9.84. So far today, the stock has hit a low of $9.41 and a high of $9.96. SD is now trading at $9.83, down $.79 (-7.44%). Over the last 52 weeks the stock has ranged from a low of $4.49 to a high of $15.00. Shares of SD are falling after the company reported a third-quarter loss of $104.132 million, or 58 cents per share, last night. Excluding one-time items, SD earned 16 cents per share on revenue of $134 million, compared to analysts' forecasts of 16 cents per share on revenue of $222 million. Technical indicators for the stock are bearish and S&P does not currently have a STARS rating for SD. If you are looking for a hedged play on SD the stock seems like it could be a candidate for a December out-of-the-money bear-call credit spread above the 11 range. [ABR-Seven Summits Strategic Investments NewsBite]

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