Date: Friday May 16, 2008 12:33:15 pm
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http://www.marketintelligencecenter.com/articles/614100
Lexmark to Use Recycled Ink Cartridges
May
, 2008Lexmark International Inc. (LXK) opened at 34.20. So far today,
the stock has hit a low of 34.09 and a high of 35.71. LXK is now
trading at 35.46, up 1.19 (3.48%). The stock hit its 52 week high of
56.88 in May and set its 52 week low of 26.55 in January. LXK has been
slipping for most of the past year. Lexmark International announced it
plans to use recycled ink cartridges for landscaping. The recycled
material forms a plastic wood substitute, known as eLumber. Technical
indicators for the stock are bullish and steady while S&P gives LXK
a positive 4 STARS (out of 5) buy rating. If you’re looking for a
hedged play on this stock, consider a July bull-put credit spread below
the $30 range. LXK stock could fall up to 15.4% before expiration and
this position would still be profitable.
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