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Today was a very bullish day for biotech in general, so ABBV along for the ride. Gilead just killed it on earnings. Merck was good, Pfizer was good. A lot of chatter on big M&A possibilities. Everything is awesome once again.
Anyone know what news is responsible for today's nice move up? Read speculation that Abbvie could be a take over target by Allergen. Sold more covered calls.
Nice price move today. Sold August 70's calls again.....4th time. It can drop tomorrow...appreciate the price swings. If if goes up I'll sell some more.
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Perhaps. Hep C was disappointing though since ABBV predicted 3 billion run rate by end of 2015. No way that will be the case, yet analysts grabbed onto that statement as part of the reason why they were so bullish on ABBV. Now they are mentioning ABBV as an acquisition. It is always something...
Today's Forbes article on AGN selling generics to Teva;
AGN looking to reinvent itself could target ABBV only if on friendly terms;
That's the fast way to see ABBV 80-90 if this comes true;
otherwise, 80-90 sometime in 2016 with getting paid with dividends while waiting.
Just my 2 cents;
I think the investor disappointment was more on the international performance in the second quarter for Humira than it was on Hep C.
I had to chuckle when I saw that GILD was done more today than ABBV even though it was ABBV that disappointed on Hep C revenues. That would imply that GILD still owns the monster share of the revenues. Guess we'll see.
Any comments on today's earnings? Good day to close my covered calls. Abbvie will recover to the high 69 - 70 soon. I'll be selling covered calls again.....Abbvie is a nice trading stock. Humira carried the company again.....guess reaps0007 claim on 3-19-15 that Humira would be dead by 12-2015 is dead wrong.
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Interestingly, I sold August 60/s covered calls some 3 months ago. The stock was not called away before ex-dividend. As far as the Shire "deal" goes, some geniuses figured that this would be a good tax dodge. They couldn't have believed this would enhance ABBV business or they would not have paid the breakup fee. With such a business decision based solely on the tax code which could change at any time, some people should be looking for new jobs.
I asked if you are short because your post sounded like it came from someone short. The dividend has been increased in the two last quarters, for almost a 25% increase- huge. But you imply that another increase is needed to justify holding. You refer to a mountain of debt and high risk - neither is the case, but someone who doesn't check facts might conclude from your post that ABBV price is way too high. It isn't. That's why you sound like a short. Your approach is more complicated than mine. I buy to hold, look for a track record of increasing dividends, and only sell if the company loses focus.
Why would anyone be short intending to collect the dividend ? I'm long but hedged using short options. Mostly OTM short Puts. But you bring up a good point. $1.64B paid out Shire breakup fee is just like more debt.