Advanced Micro Devices (AMD) Moves Higher Following Unemployment Report
Posted: Friday, September 03, 2010 9:55 AM EDT
By: Market Intelligence Center Staff
Advanced Micro Devices (NYSE: AMD) opened at $6.05. So far today, the stock has hit a low of $6.00 and a high of $6.09. AMD is now trading at $6.07, up $0.14 (2.36%). Over the last 52 weeks the stock has ranged from a low of $4.33 to a high of $10.24. AMD shares are rising this morning after a better-than-expected monthly unemployment report from the Labor Department sparked an early-session rally on the market. The news assuaged investors worries that the economy could avoid a double-dip recession, the specter of which sent stocks reeling in August. Technical indicators for the stock are neutral and S&P gives AMD a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on AMD the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 5 range. [ABR-Seven Summits Strategic Investments NewsBite]
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