12:30 pm (EST)
The bulls are in charge today as they have taken a number of positive developments to move the market higher. Mergers and acquisitions are the rave today as Abbott (ABT, $49.00, up $1.67) announced that it will acquire Solvay’s pharmaceuticals business for $6.6 billion ($4.5 billion euro) in cash.
Xerox (XRX, $7.41, down $1.56) has made a pitch for Affiliated Computer Services (ACS, $53.35, up $6.10). It is a cash and stock deal valued at $63.00 per share or $6.4 billion as of the closing price of Xerox’s stock price from last Friday. ACS shareholders will receive a total of $18.60 per share in cash plus nearly 5 Xerox shares for each ACS share they own.
There were plenty of upgrades today that have also given the market a lift. Barclays upgraded Cisco (CSCO, $23.83, up $1.21) from “Equal Weight” to “Overweight” and raised its price target from $24 to $28.
ViroPharma (VPHM, $9.75, up $0.80) got an upgrade from “Perform” to “Outperform” and a new price target of $13.
Accenture (ACN, $37.79, up $1.67) is up 5% after it got upgraded from “Hold” to “Buy” with a $45 price target.
General Dynamics (GD, $64.42, up $1.43) was raised from “Hold” to “Buy”, as well, with a target of $78.
And finally, U.S. Steel (X, $47.09, up $0.46) has turned positive after spending much of the morning in the red. Current subscribers can check the Members Area for the latest option trade for U.S Steel.
Rick@MomentumOptionsTrading.com
Tags: Abbott, ABT, Accenture, ACS, CSCO, GD, options picks, options trading strategies, U.S. Steel, ViroPharma, VPHM, Xerox
This entry was posted
on Monday, September 28th, 2009 at 12:36 PM and is filed under Company Commentary, Hot Stocks, Market Analysis, Market Commentary, Mergers and Acquisitions, Option Trades.
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MomentumOptionsTrading Mid-Day Update For 9/28/09
12:30 pm (EST)
The bulls are in charge today as they have taken a number of positive developments to move the market higher. Mergers and acquisitions are the rave today as Abbott (ABT, $49.00, up $1.67) announced that it will acquire Solvay’s pharmaceuticals business for $6.6 billion ($4.5 billion euro) in cash.
Xerox (XRX, $7.41, down $1.56) has made a pitch for Affiliated Computer Services (ACS, $53.35, up $6.10). It is a cash and stock deal valued at $63.00 per share or $6.4 billion as of the closing price of Xerox’s stock price from last Friday. ACS shareholders will receive a total of $18.60 per share in cash plus nearly 5 Xerox shares for each ACS share they own.
There were plenty of upgrades today that have also given the market a lift. Barclays upgraded Cisco (CSCO, $23.83, up $1.21) from “Equal Weight” to “Overweight” and raised its price target from $24 to $28.
ViroPharma (VPHM, $9.75, up $0.80) got an upgrade from “Perform” to “Outperform” and a new price target of $13.
Accenture (ACN, $37.79, up $1.67) is up 5% after it got upgraded from “Hold” to “Buy” with a $45 price target.
General Dynamics (GD, $64.42, up $1.43) was raised from “Hold” to “Buy”, as well, with a target of $78.
And finally, U.S. Steel (X, $47.09, up $0.46) has turned positive after spending much of the morning in the red. Current subscribers can check the Members Area for the latest option trade for U.S Steel.
Rick@MomentumOptionsTrading.com
Tags: Abbott, ABT, Accenture, ACS, CSCO, GD, options picks, options trading strategies, U.S. Steel, ViroPharma, VPHM, Xerox
This entry was posted on Monday, September 28th, 2009 at 12:36 PM and is filed under Company Commentary, Hot Stocks, Market Analysis, Market Commentary, Mergers and Acquisitions, Option Trades. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.