SunTrust Banks (STI) NewsBite - STI Rises on Bailout Hopes
Thu. October 02, 2008; Posted: 02:15 PM
Oct 02, 2008 (Fresh Brewed Media via COMTEX) --
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PowerRating -- SunTrust Banks (NYSE:
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PowerRating) opened at $48.01. So far today, the stock has hit a low of $48.01 and a high of $50.31. STI is now trading at $50.00, up $0.95 (1.94%). Over the last 52 weeks the stock has ranged from a low of $25.60 to a high of $78.76. Shares of STI are rising with other banks today on hopes the House of Representatives may approve a revised financial-sector bailout plan. Technical indicators for the stock are bearish and S&P gives STI a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on STI the stock seems like it could be a candidate for an October out-of-the-money bull-put credit spread below the 35 range.
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For full details on Suntrust Banks Inc (STI)
click here. Suntrust Banks Inc (STI) has Short Term PowerRatings of 8. Details on Suntrust Banks Inc (STI) Short Term PowerRatings is available at
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