Warner Chilcott (WCRX) NewsBite - WCRX Falls After Pricing Share Offering
Posted: Friday, November 20, 2009 11:43 AM EDT
By: Market Intelligence Center Staff
Warner Chilcott (NasdaqNM: WCRX) opened at $22.45. So far today, the stock has hit a low of $22.30 and a high of $22.89. WCRX is now trading at $22.48, down $0.67 (-2.89%). Over the last 52 weeks the stock has ranged from a low of $9.24 to a high of $24.45. WCRX announced last night that it will price a previously announced secondary offering of 20 million shares at $22.25 per share. Technical indicators for the stock are bullish and S&P gives WCRX a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on WCRX the stock seems like it could be a candidate for a January out-of-the-money bear-call credit spread above the 25 range. [ABR-Seven Summits Strategic Investments NewsBite]
CLICK HERE: FREE Warner Chilcott (WCRX) Stock ReportSee what our analysts have uncovered about Warner Chilcott (WCRX).