King Pharmaceuticals Inc. and Mesabi Trust
The Dow Jones Industrial Average (DJIA) has fallen more than 30 points this morning, falling back below the 11,000 mark as Wall Street prepares for the release of the minutes of the Fed meeting in September. More from the New York Stock Exchange, we are with 984 issues advancing compared to 1792 the decline in stocks. Minority Leader bullish contingent in the New York Stock Exchange (NYSE) is the King Pharmaceuticals Inc. (KG), while Mesabi Trust (MSB) is directed to retirement.
King Pharmaceuticals Inc. (KG) shares have risen about 40% this morning, after Pfizer Inc. (PFE) announced it would buy the company for $ 3.6 billion in cash. In accordance with the terms of the agreement, Pfizer is paying $ 14.25 per share cash KG. The company expects the acquisition to add 2 cents per share to earnings in 2011 and 2012 and 3 cents to 4 cents per share a year in 2013 until 2015.
As a result of the spike, KG shares are now trading in a period of three years in excess of $ 14 per share. Looking at the news, sentiment was largely bullish KG. Schaeffer’s actions put / call open interest ratio (SOIR) of 0.36 is below 71% of all those taken in the last year, while only 2.7% of its fleet was sold recently. Finally, Zacks reports that eight of the 14 analysts that follow the type of shares to “buy” or better.
Shares of mining concern Mesabi Trust (MSB) have covered more than 4.5% today, as the head lower in commodities due to an increase in U.S. dollar. However, the MSB bulls should not be too worried, because the stock has found support in moving average increase of 10 days. In general, the MSB has been on fire in 2010, rising over 230% since the beginning of the year. Recently, stocks have had the support of its 10-day moving averages and 20 days, MSB to close a session below this duo since August.
MSB feeling is light. SOIR The action comes at 0.65, but has not been traded equity options long enough to have a percentile rank for annual comparison. Meanwhile, only 2.5% of the fleet of the stock sold short, while the lone analyst following the stock that rates a “hold.”