Filed under: Major Movement, Earnings Reports, Forecasts, Bad News, Options, Technical Analysis
Medtronic (MDT - option chain) stock is trading lower today after the company reported first-quarter earnings this morning, posting a profit of $830 million, or 76 cents per share. Excluding one-time items, MDT earned 80 cents per share on revenue of $3.77 billion. Analysts had forecast a profit of 81 cents per share on revenue of $3.95 billion. The company also lowered its fiscal-2011 EPS forecast by 5 cents to a range of $3.40 to $3.48. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on MDT.
This morning, MDT opened at $31.97. So far today the stock has hit a high of $32.41 and a low of $30.85. As of 12:10, MDT is trading at $31.77, down $3.22 (-9.2%). The chart for MDT looks bullish and S&P gives MDT a positive 5 STARS (out of 5) strong buy ranking.
Continue reading Medtronic Misses Earnings, Drops Forecast
Medtronic Misses Earnings, Drops Forecast originally appeared on BloggingStocks on Tue, 24 Aug 2010 13:30:00 EST. Please see our terms for use of feeds.
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Medtronic - Business - Revenue - Technical analysis - BloggingStocks