Wells Fargo (WFC) NewsBite - WFC Rises 3.9% In Early Trading
Posted: Friday, September 03, 2010 9:58 AM EDT
By: Market Intelligence Center Staff
Wells Fargo (NYSE: WFC) opened at $25.75. So far today, the stock has hit a low of $25.75 and a high of $26.08. WFC is now trading at $26.08, up $0.98 (3.9%). Over the last 52 weeks the stock has ranged from a low of $23.02 to a high of $34.25. Shares of WFC are trading higher with the rest of the market this morning after the Labor Department reported better-than-expected employment numbers in its monthly jobs report. The news reassured investors who had become worried about the prospect of a double-dip recession, triggering a rally in early trading. Technical indicators for the stock are bullish and S&P gives WFC a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on WFC the stock seems like it could be a candidate for an October out-of-the-money bull-put credit spread below the 23 range. [ABR-Seven Summits Strategic Investments NewsBite]
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