Micron Technology (MU) NewsBite - Economic Optimism Boosts MU
Oct 29, 2009 (Fresh Brewed Media via COMTEX) --
Company: Micron Technology, Inc. (MU)
Micron Technology (NYSE: MU) opened at $6.94. So far today, the stock has hit a low of $6.90 and a high of $7.17. MU is now trading at $7.00, up $0.17 (2.49%). Over the last 52 weeks the stock has ranged from a low of $1.59 to a high of $9.13. MU shares are rising with the rest of the market today after the Commerce Department reported that GDP rose at a 3.5 percent annualized pace during the third quarter, higher than economists had expected. This could be a good sign for MU. Technical indicators for the stock are bullish and S&P gives MU a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on MU the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 6 range.
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Company: Micron Technology, Inc. (MU)
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