Royal Bank of Canada (RY) NewsBite - RY Earnings Don't Impress Investors
Fri. August 29, 2008; Posted: 12:24 PM
Aug 29, 2008 (Fresh Brewed Media via COMTEX) --
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PowerRating -- Royal Bank of Canada (NYSE:
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PowerRating) opened at $45.66. So far today, the stock has hit a low of $45.23 and a high of $45.82. RY is now trading at $45.36, down $0.28 (-0.61%). The stock hit its 52-Week high of $59.29 in October and set its 52-Week low of $39.62 in July. Royal Bank of Canada posted yesterday third quarter earnings that beat analysts' expectations on strong revenues that were partially offset by higher expenses and a higher tax rate. Technical indicators for the stock are bullish and S&P gives RY a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on RY the stock seems like it could be a candidate for a January out-of-the-money bear-call credit spread above the 50 range.
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For full details on Royal Bank Of Canada (RY)
click here. Royal Bank Of Canada (RY) has Short Term PowerRatings of 5. Details on Royal Bank Of Canada (RY) Short Term PowerRatings is available at
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