Illinois Tool Works (ITW) hits 52-week high on reaffirmed outlook
Posted by: admin in Industry NewsFiled under: Major movement, Forecasts, Good news, Industry, Options, Technical Analysis
Illinois Tool Works (ITW - option chain) shares are rising today after the company reaffirmed its fourth-quarter EPS guidance of 54 to 66 cents. ITW also stated it expects Q4 revenue growth between -1 and 5 percent, or roughly $3.64 to $3.86 billion. Analysts are expecting the company to post EPS of 62 cents on $3.68 billion. If you think that the stock won’t fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on ITW.
ITW opened this morning at $49.70. So far this day the stock has hit a low of $49.58 and as of 12:00, the stock is trading right near a new 52-week high at $51.11 up $2.13 (4.3%). The chart for ITW looks neutral and S&P gives ITW a neutral 3 STARS (out of 5) hold ranking.
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Illinois Tool Works (ITW) hits 52-week high on reaffirmed outlook originally appeared on BloggingStocks on Mon, 16 Nov 2009 13:20:00 EST. Please see our terms for use of feeds.
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