Stern and Lewis have been key to Doug's team for many years. There is no information at this time regarding Doug's new ABC team, where it will be, and who will be part of it. This stuff takes a long time. I would look for announcements in the next 60 to 90 days.
Profit taking - stock ran up last week and probably will drop slightly before heading back to $70. Within 6 months this stock could reach $80 if earnings are strong. Maybe it will split. I think it is time for it to split 2 for 1.
Why split now? What is gained? The merged companies are still allowing the dust to settle, implementing the terms of the merger, cutting back on distribution points, terminating layers of employees, revamping contracts to solidify clients, and, while we're at it, refinancing loans at lower than ever rates? So what's the advantage of splitting except to dilute further the number of shares already outstanding??
The market was up over 150 points and ABC took a hit with CAH and MCK taking lesser hits. The drug industry today in general took hits but I have no explanation as to why ABC took a large one. Time will tell on the projections as FY01 just ended. We should be getting some 4th Qtr and FY01 figures shortly. Anyone else got any thoughts?
Yuma-As has been pointed out the drug stocks in general have been doing very well the last couple of weeks. Profit taking was bound to happen sooner or later. One of the other factors may have been Lilly's profit warning announcement. The ironic thing about the Prozac loss to generics will probably help the profit margins for the wholesalers. However, negative news like Lilly's tends to hurt the whole drug sector, manuf, wholesaler, and retailer.