Scripps Networks (SNI) NewsBite - SNI Just Below 52 Week High Following Strong Earnings

Posted: Friday, November 06, 2009 12:36 PM EDT

Scripps Networks (NYSE: SNI) opened at $39.12. So far today, the stock has hit a low of $38.18 and a high of $39.45. SNI is now trading at $39.37, up $0.14 (0.36%). The stock hit its 52-Week high of $40.29 last month and set its 52-Week low of $18.10 in March. The stock is moving higher today after this morning's third quarter earnings report. Analysts had been expecting the company to show earnings of 36 cents per share but the actual earnings came in 3 pennies higher at 39 cents. The stock is now trading just shy of its 52 week high. Technical indicators for the stock are bullish and S&P gives SNI a positive 5 STARS (out of 5) strong buy ranking. If you are looking for a hedged play on SNI the stock seems like it could be a candidate for a December out-of-the-money bull-put credit spread below the 35 range. [ABR-Seven Summits Strategic Investments NewsBite]

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