They could have already received it. Was invested in a company who already got the news...it was negative...but they were scheduled to ring the NASDAQ bell and there they were with all their smiling faces knowing the FDA news had already been received and it was negative. They held off as long as they could - hope this is more positive!
Jacosa, I'm thinking and feeling this drop might be attributed more and more to the upcoming CC as well - unless there's been a somewhat lower volume/larger drop for other reasons to be determined.
Drops on minuscule volume. Way too quiet. No support until late in the day. MMs seem good to drop per Vaseline. Thinking the gift cards are a winner!! Unless some Safari cars have been seen in the parking lot at INCY.
The real reasons for the pharma merger boom" JULY 28, 2015 -
“There’s sort of this mad rush,” one investor says of the $221 billion surge in pharmaceutical deals in the first half of this year. The latest M&A wave to hit the pharmaceutical industry swept in on Monday, delivering news of big deals in every variety. It was a bonanza of acquisitions, split-ups and hostile-takeover collapses, all at once: Teva Pharmaceutical Ind said it would buy Allergan’s generics business for $40.5 billion and drop its hostile bid for Mylan, while Allergan said it would buy biopharma firm Naurex for $560 million.
The dealmaking highlighted the frenetic explosion of M&A activity in the pharmaceutical sector—not only Co gobbling each other up, but corporations jettisoning slower-growth divisions in the form of spinoffs or divestitures. The result has been a nuclear-like transformation of the industry in which companies have combined, split and recombined at a breakneck pace, emerging with all new identities and properties.
There were $221 billion worth of pharmaceutical deals completed in the first half of this year, triple the amount during the first half of 2014, according to a recent report from consulting firm KPMG. Why such a rush to make deals? Experts attribute it to a combination of investor pressure and a narrowing window of opportunity. Pharma Co believe acquisitions are the only way to keep their revenues growing as fast as investors expect—and with today’s complex breakthrough medicines, it’s often cheaper for a company to acquire the next blockbuster drug than to develop it in-house.Adding to the M&A hurry are the current low interest rates, which make capital cheap for companies like Allergan AGN -0.42% and Mylan MYL 2.24% that have funded their acquisitions with debt. Rates are likely to go up, perhaps as soon as this autumn, and companies and analysts report that recent dealmaking has also reduced the options for takeout candidates, creating pressure on companies.
If that's the case Quig I'd expect M&A to pick up sooner vs. later in this sector with rates on the rise - some think that's not a reason to push CEO's to move quickly. Gotta take advantage of the lower rates while you can.
Looks to be narrowing a bit but seems our GEM wants to rise again. Mornings show a pretty significant price difference between Bid and Ask. Moving it all over the place.
Bonk, I'm not an expert but it does seem that MM's are playing something here. Since we hit our high and the past 6 to 8 trading sessions, been more what I hate to say and us this word "manipulation" or "peculiar" action than I've seen ever with our GEM. Not sure what this suggests if anything - good or bad but much of who are trading I'm guessing are the institutions and it looks like they're playing volleyball with buys and sells. That said, yes we get to about a .15 to .20 spread as the day goes on but again still interesting watching the action lately.
.70 to almost a $1.00 spread - looks like trading amongst themselves and keeping this in a range - 100 shares being tossed around back and forth. GEM wants to climb.
Looks like she's not done yet. Sector news not helping. China hurting everything. Seems our GEM is in a tail-spin. Perhaps some much needed news is on the near horizon - let's hope!