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Linn Energy (LINE) NewsBite - LINE Falls on Stock Offering

Oct 07, 2009 (Fresh Brewed Media via COMTEX) --

Company: Linn Energy LLC (LINE)

Linn Energy (NasdaqNM: LINE) opened at $21.94. So far today, the stock has hit a low of $21.90 and a high of $22.54. LINE is now trading at $22.38, down $0.76 (-3.28%). Over the last 52 weeks the stock has ranged from a low of $10.81 to a high of $24.09. Shares of LINE are declining today after the company announced a public offering of 7.5 million shares priced at $21.90 per share. Technical indicators for the stock are bullish and S&P does not currently have a STARS rating for LINE. If you are looking for a hedged play on LINE the stock seems like it could be a candidate for an April out-of-the-money bear-call credit spread above the 25 range.

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Company: Linn Energy LLC (LINE)


Related terms: energy, public offering, S&P

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