Barclays (BCS) NewsBite - BCS Falls on Economic Worries

Posted: Friday, November 20, 2009 9:59 AM EDT

Barclays (NYSE: BCS) opened at $20.07. So far today, the stock has hit a low of $20.07 and a high of $20.27. BCS is now trading at $20.26, down $0.52 (-2.51%). Over the last 52 weeks the stock has ranged from a low of $2.75 to a high of $25.68. BCS shares are declining with the rest of the market this morning after a disappointing earnings report from Dell (DELL) reignited worries that economic recovery could be slow and weak. Dell warned that sales to businesses remains sluggish. Technical indicators for the stock are neutral and S&P gives BCS a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on BCS the stock seems like it could be a candidate for a March out-of-the-money bear-call credit spread above the 25 range. [ABR-Seven Summits Strategic Investments NewsBite]

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