Mirant (MIR) NewsBite - MIR Moving Lower Despite Higher Earnings On Lower 2009 Forecast

Posted: Friday, November 06, 2009 12:47 PM EDT

Mirant (NYSE: MIR) opened at $14.41. So far today, the stock has hit a low of $14.25 and a high of $14.65. MIR is now trading at $14.48, down $0.23 (-1.56%). The stock hit its 52-Week high of $20.28 in December and set its 52-Week low of $9.11 in March. The stock is trading lower despite topping analyst estimates for its third quarter. Analysts were expecting to see the company show $1.16 per share, but actual earnings came in at $1.63. The company lowered its 2009 adjusted earnings forecast to $860 million from $873 million. Technical indicators for the stock are bullish and S&P gives MIR a positive 4 STARS (out of 5) buy ranking. We will just watch this one for now. There are no hedged trades we like the look of for MIR. [ABR-Seven Summits Strategic Investments NewsBite]

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