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Gilead Sciences Inc. Message Board

  • beznas beznas Mar 5, 2008 12:12 PM Flag

    Just got off the phone with GILD ir.

     

    I spoke to Andre Torres at Investor's relations a few minutes ago:

    GILD is buying 7.2 Million Shares TODAAAAAAYYYYYYY during the afternoon for $500 Million. They're buying all 7.2 million of them TODAY!!

    The average pp/share is $69.4444444444444444444444444444444444444444444444444444444444444444444444444444444

    Obviously this is old news but Expect the stock price to rocket to the 60s late today and tomorrow.

    Load up the boat.

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    • You don't understand how these things work.

      Goldman has the shares. Probably from buying stock in the general market for their own account and perhaps from 1 or 2 holders who want out. They know GILD has a buyback in place, which means the door is opened to show the company blocks of stock. That is what happened. Goldman showed GILD 500,000 shares with price tag that fits within the rules of stock buy-backs. (I could go on about the rules), but suffice it to say Goldman knows them, and they benefit the broker in this situation.) GILD says they'll buy the stock and the transaction is going to the tape. None of this happens if GILD is trading down, but now that it is trading up, the numbers really make sense for one party in particular. Goldman.

      I'm long GILD, and I love the stock. But, I view this as a moderate negative for the near-term. GILD burns a chunk of their buy-back money at some-what run up prices, and Goldman runs off with the dough. In this case GILD's management got played.

    • 36m sh. estimate buy back to go...

    • dude..what r u smoking????

      60's today....

      and gas will be $4.00 a gallon today also....ooops...I guess thats already true.

      :)

 
GILD
115.04-0.97(-0.84%)Jul 2 4:00 PMEDT