does anyone really expect the board to act. where
were they. if u look, one mismanaged Quaker, another
ran Amoco-not stellar, but maybe his skills at
selling out may help?
unfortunately, it also needs a
new board.This board also approved paying Burnham 2
million dollars as a fee to "have identified Miles as
I think, abt shareholders should get a refund!
Smart investors BUY when others don't want to
SELL which is where ABT is now. Not my advice, Buffet
even says he doesn't partake in IPOs as this is when
the seller wants you to BUY which is why so many
folks get caught in the IPO downdrafts.
time to BUY ABT.
Thanks once again.
Incidentally how did
ABT manage to sweep the FDA site inspection reports
and Out of Compliance notices under the rug for such
a long time.
Is ABT a standalone or has it
any take over potential.?
ABT has been bouncing off the support of
1/2. If it breaks this level, the next old support is
$35, after that $29. Since the bad news has been out
for some time the market most likely has discounted
it and the $36-$37 support will hold. The drug
sector in general appears to be back in favor, relieving
some down pressure even on this troubled stock. But
don't expect dramatic moves up for ABT until into 2000
when new products come on line and the ripples of the
FDA action have dissipated. The conflict with FDA is
very serious and will set ABT back by about a year.
Sometimes investors get emotional about these setbacks,
especially if they got in recently and can't wait till 2001
to recoup. But opportunities to buy low don't come
with blue skys and great EPS, they come after short
term setbacks that drive the stock into the ground.
You can blame everyone but remember, it's the
stockholder that bought the stock. Do your research, buy and
hold. If it turns out a loser, sell and move on.
The projected EPS for 2000 is about $1.76. At P/E
of 22 this = $39/share. If you are short term you
have lots of time to buy at the bottom. If you want to
short the stock you probably should have done that when
it was at $45/share. If you are long, you can buy on
every small dip through next year. If you are long but
have too much of this stock, you wait until 2001 to
sell and diversify. It is likely that approved tests
will trickle back to market between now and 2001, so
maybe I'am being conservative on outlook. By 2001,
however, a number of pharm drugs in pipeline will be out
including the new anti AIDS and a new anti-bacterial to
compete with Zithromax. Real double didget growth should
be evident by 2001.
Thanks Who Cares 1 2 3, for the link to the FDA's
position on this matter. Very informative. I hope everyone
here has taken the time to read it. Hopefully, the BOD
will not only read it, but take action; or maybe
Gilligan really is at the helm.
The Feds are arbitrary and dictatorial. But the
damage control by ABT since 1993 seems inadequate...this
despite multiple warnings from FDA. Miles White should be
held responsible, yet proclaims "all is well". He is a
clone to Ivester of Coke...big paydays for lousy
results while on the watch. Hope the Board acts