Fortune Brands (FO) 11/19/09 PriceWatch Alert Bearish Price Movement
Posted: Thursday, November 19, 2009 8:47 AM EDT
By: Market Intelligence Center Staff
Fortune Brands (NYSE: FO) closed yesterday at $39.69. So far the stock has hit a 52-week low of $17.68 and 52-week high of $46.77. Fortune Brands stock has been showing support around 38.72 and resistance in the 40.76 range. Technical indicators for the stock are Bearish and S&P gives FO a neutral 3 STAR (out of 5) hold rating. FO appears on the Investors Observer Analysts Favorites list. For a hedged play on this stock, look at a Mar '10 35 covered call (FO CG) for a net debit in the $33.79 area. That is also the break even stock price for this trade. This covered call has a 121 day duration, provides 14.87% downside protection and a 3.58% assigned return rate for a 10.80% annualized return rate (comparison purposes only). Fortune Brands has a current annual dividend yield of 1.87%. [THA-Seven Summits Research]
CLICK HERE: FREE Fortune Brands (FO) Stock ReportSee what our analysts have uncovered about Fortune Brands (FO).