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Becton, Dickinson and Company Message Board

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  • JM_Options JM_Options Jan 20, 1999 10:55 PM Flag

    Small guy sells off pre-earnings...

    Again, there is someone out there who has, or
    thinks they have some type of damaging information about
    the company. Today, beginning around 10 AM, Pru Bache
    started buying the Feb 50 puts in 50 lots. They bought a
    few hundred of them. Then other put buyers came in
    and bought the puts at up to a 50 volatility. What
    scares me is that they started doing this while the
    stock showed no big sellers (in the early morning), and
    then continued throughout the day. Obviously, they
    were right, even if only for today. There seemed to be
    a buyer out there in the stock, once it got below
    38, but since he was buying the stock on his bid
    (very easily), he continued to step down. I can't
    imagine the earnings being bad, but something must be out
    there for these put buyers to be as agressive as they
    were today. Go to the Philadelphia Stock Exchange site
    at www.phlx.com and look at the volume of the puts
    today. The only saving grace is that the stock is
    already down so far, that even if there is bad news, it
    shouldn't hurt the stock price that much more. If the stock
    opens down on earnings shortfall tomorrow, I will be a
    buyer. Any thoughts out there???
    JM

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    • I've read the earlier posts and agree that if
      indeed earnings are bad and the selling was by one or
      more insiders, that there ought to be an
      investigation. Has anyone had experience bringing matters of
      this type to the attention of the FCC? Pardon my
      French but it really pisses me off when others take
      unfair advantage of their advance notice to lock in tidy
      profits and screw everyone else.

      • 3 Replies to delphi123
      • <<<<<<Has anyone had experience bringing matters of this type to the attention of the FCC?>>>>>

        My apologies... I meant the "SEC."

      • You are correct, it pisses me off too, since I am
        on the other side of some of their trades. I have
        tried before, but had no success at getting anyone to
        investigate this type of activity. I wish I knew a way to do
        it, especially if, as I suspect, some type of bad
        news is out there. I even called the company today and
        tried, unsuccessfully to talk to someone in investor
        relations, to alert them to the unusual activity in the
        options with the hopes that they will follow up to see
        who the actual put buyers were. The only problem was,
        the investor relations person, Ron Jasper, was "on a
        conference call" and would call me back, and when that
        didn't happen, I called again, and was told he was "in a
        meeting". Somehow, I feel like he was trying to avoid
        talking to me... but, maybe I'm just cynical and
        suspicious! I guess we'll just have to wait until tomorrow to
        see.
        JM

      • SEC has a lockout period prior to and after earnings reports are issued!

    • BDX is counting on Latin America for sales
      growth...The Brazilian economy is key. Lot of people are
      nervous about that!

      Look for BDX to meet earnings
      expectations tomorow..maybe even fall a penny short, but the
      real concern will be lackluster revenues growth.
      They'll never get the annual sales to 6B by 2003 as
      promised! The street won't like that!

      Buy the stock
      at $33....back to $45 by June!

    • Interesting you mention Prudential being involved
      with put buying.

      On November 17th, a day after
      the analyst meeting, Prudential cut BDX to hold. A.G.
      Edwards upgraded to buy, and SG Cowen reiterated strong
      buy.

      Also, on December 17th Morgan Stanley
      reiterated Strong Buy.

      I have a sneaky hunch that
      Prudential wants this stock down just in time to an upgrade
      tomorrow morning.

      I figure this quarter cannot be a
      blowup because of bullish analyst meeting in
      mid-November and recent Strong Buy reiteration by MSDW in
      mid-Decemeber.

      This stock is down $4.5 in two days (over
      a 10% correction) and the news would have to be
      devastating to stock it significantly lower.

 
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