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Arts & crafts powerhouse, Martha Stewart, and her company, Martha Stewart Living Omnimedia (MSO – 27-13/16) trounced First Call
earnings estimates of one cent per share this morning. Ahead of the opening bell, the company reported third-quarter earnings of eight cents per share.
MSO shares have reacted well to the news, as the stock has gained nearly three-and-a-half percent on above-average volume. On October 26, the stock's 10-day moving average crossed over its 20-day moving average, a technical maneuver that tends to prognosticate short-term bullish activity. MSO is currently trading nearly one point in the black and continues to trade well above all significant trendlines.
Option activity remains anemic, with the heaviest open interest residing at the December 30 call, which is home to 650 contracts.