New York Times (NYT) NewsBite - NYT Falls on Dubai Worries





New York Times (NYSE: NYT) opened at $8.49. So far today, the stock has hit a low of $8.33 and a high of $8.69. NYT is now trading at $8.69, down $0.30 (-3.34%). Over the last 52 weeks the stock has ranged from a low of $3.44 to a high of $11.05. NYT shares are down with most of the rest of the market this morning on news that a government investment company in Dubai could default on over $60 billion in debt payments. Analysts are concerned that a default could have negative consequences on a possible recovery from the global financial crisis. Technical indicators for the stock are bearish and S&P gives NYT a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on NYT the stock seems like it could be a candidate for a January out-of-the-money bear-call credit spread above the 10 range. [ABR-Seven Summits Strategic Investments NewsBite]



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