Honda Motor (HMC) NewsBite - HMC Rises on Executive's Comments

Honda Motor (NYSE: HMC) opened at $30.06. So far today, the stock has hit a low of $30.00 and a high of $31.18. HMC is now trading at $30.46, up $0.46 (1.53%). Over the last 52 weeks the stock has ranged from a low of $27.01 to a high of $37.64. HMC shares are rising today after a company executive told Reuters that despite expected weaknesses in the U.S. auto market, HMC should be able to achieve a slight increase in sales in 2009. He added that the strength of HMC's hybrid brands should help in a market with high energy prices. Technical indicators for the stock are bearish and S&P gives HMC a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on HMC the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 25 range.

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