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Biogen Idec Inc. Message Board

  • tklcinvestor_98 tklcinvestor_98 Jun 5, 1998 3:52 PM Flag

    What the hell is happening?

    I bought in today at 29 1/4 because there was no
    news I could see precipitating the stock price drop. I
    don't understand the reason for the high volume and big
    selloff. Can anyone please provide and explanation.

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    • I appreciate the information on Merrill Lynch.
      The important things is that there is nothing
      fundamentally wrong with the stock. Usually a reduced EPS
      estimate results in some kind of news release, but I guess
      this is not always the case.

    • The deal is Merrill trimmed their to numbers in
      line with other brokers. Then some of their retail
      clients blew out of the stock today without regard to
      price killing the stock. Nothing fundamental at all.
      Stock will rebound on m,onday.

    • merrill lynch did in fact reduce estimates for
      idph for the next 3 years for idph. while mlco was way
      above the other firms estimate for 98 their trimming of
      estimates for 99 now puts them below consensus view. i
      believe they lowered 99 estimate to 1.10 and they also
      lowered their 12 month estimate to 45. analyst did lower
      his buy rating on the stock however.merrill lynch put
      out a reprt today on first call and while i read the
      report i do not remember all the revised estimates. i am
      a professional trade who has traded idph for a long
      time and this is the worst the stock has eve looked. i
      think the stock rebounds on monday but the rebound may
      not hold. there wer a lot of buyes on instinet after
      the close . i sold some stock at 27 5/8 at 4:15 and
      there was�still about 10,000 shares to buy at that
      level. just as a point of information, merrill has been
      leaning on this stock for weeks along with jpms and it is
      possible that today could be theclimax of the selling. i
      am long this stock and think it is an excellent
      company and there is now very little downside risk in the
      stock price. unfortunately for those of you who bought
      the stock in the high 30's it is goingto be a long
      road back to that level. good luck to everybody on
      this stock and i have to say i am vey impressed with
      the posts on this stock. i have gained some insight
      into the company from many of yourposts.
      i just
      read my message and realize i made a mistake.MERRILL
      LYNCH ANALYST DID NOT REMOVE HIS BUY RATING ONLY HIS
      ESTIMATES

    • merrill lynch did in fact reduce estimates for
      idph for the next 3 years for idph. while mlco was way
      above the other firms estimate for 98 their trimming of
      estimates for 99 now puts them below consensus view. i
      believe they lowered 99 estimate to 1.10 and they also
      lowered their 12 month estimate to 45. analyst did lower
      his buy rating on the stock however.merrill lynch put
      out a reprt today on first call and while i read the
      report i do not remember all the revised estimates. i am
      a professional trade who has traded idph for a long
      time and this is the worst the stock has eve looked. i
      think the stock rebounds on monday but the rebound may
      not hold. there wer a lot of buyes on instinet after
      the close . i sold some stock at 27 5/8 at 4:15 and
      there was�still about 10,000 shares to buy at that
      level. just as a point of information, merrill has been
      leaning on this stock for weeks along with jpms and it is
      possible that today could be theclimax of the selling. i
      am long this stock and think it is an excellent
      company and there is now very little downside risk in the
      stock price. unfortunately for those of you who bought
      the stock in the high 30's it is goingto be a long
      road back to that level. good luck to everybody on
      this stock and i have to say i am vey impressed with
      the posts on this stock. i have gained some insight
      into the company from many of yourposts.

    • Does anyone know what the NEW earnings/revenue
      estimates are? My last memory of estimates was ~$160M this
      year with Idec shooting for $175M. Were ML's estimates
      in excess of this? So far Idec seems on target with
      $37.7M in the first quarter which if you discount a bit
      of "pent up demand" and add increasing market
      penetration $160M certainly seems reasonable.

      Just my
      0.02
      Ed

    • More often than not there is absolutely NO reason
      for the drop - except that once the professional
      short sellers smell a decline, they drag it down to
      oblivion. Be very cautious buying while this is going on.
      Just a piece of advice from one who has been there.

 
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