Terra Industries (TRA) NewsBite - CF Buys TRA Stake on Open Market
Sep 28, 2009 (Fresh Brewed Media via COMTEX) --
Companies: Terra Industries, Inc. (TRA)
Terra Industries (NYSE: TRA) opened at $35.86. So far today, the stock has hit a low of $35.40 and a high of $36.55. TRA is now trading at $36.15, up $0.96 (2.73%). Over the last 52 weeks the stock has ranged from a low of $11.21 to a high of $37.25. Shares of TRA are rising this morning on news that CF Industries Holdings (CF) bought 7 percent of TRA's outstanding stock on the open market over the past two weeks. TRA had previously rebuffed a merger offer from CF. Technical indicators for the stock are and S&P does not currently have a STARS rating for TRA. If you are looking for a hedged play on TRA the stock seems like it could be a candidate for a December out-of-the-money bull-put credit spread below the 32.50 range.
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Companies: Terra Industries, Inc. (TRA)
Related terms: market, merger, nyse, S&P
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