Fast Money guys said it's breaking out but the move on Friday was huge considering the size of GE and the amount of shares. I think if futures are flat you see a move higher at first then possibly some profit-taking. This is still a low growth company despite the huge buyback and who knows how they work the buyback.
Carly Fiorini...you remember the one who ran HPQ into the ground with her forced merger and executive skills and left with a ton of money. Hers is a legacy of various executive positions throughout her career and being paid handsomely. She now spends some of her time as a contributor to various networks where she just hammers anything to do with the Democratic party. Of course she has no realistic answers to the serious questions that are asked of her.
If it falls through I think you see around $35-$36 pretty quick then it will go even lower the market loves to punish stocks with deals that fall apart and in this case it will be managements fault.
This seems to be a crp shoot each day but I think as each day goes on without a deal the shares will slowly pull back like they did the week after the initial announcement when they went from $45 to $41. The market still believes something is out there but for I guess time will tell.
What may be purely speculation is that Intel will come back with a better bid. At this point since we are dealing in speculation all around this trade it would appear that Intel has the upper hand if there are any future negotiations. Altera's options are limited to saying yes or no once again whereas Intel can suit other companies. Based on the past two weeks if a deal gets done Altera's shares will be at least $6 higher and no deal at least $8-$10 lower and that's pretty much known at this point.
Probably a good move this is pure momentum today and not a lot about the company's fundamentals going forward. I would guess this will be back near $28 soon when profit-taking kicks in. No matter what you can never be wrong taking a profit.
Maybe I'm wrong but this may be a bit overdone. The volume is nuts.
Not under $33 in a blink but definitely in the high $30's quick if no deal is confirmed. Speculators will still be around to keep it above that pre-market low from yesterday.
Tough call at this point looks like $5-$10 upside or eventually near $10 ormore downside probably why it's in the middle now. Today's noon time move appears to be a lunchtime/Friday based short-covering for now I see now news. The HFT's can spark a rally like this knowing there are nervous shorts in the shares. I still think this closes with a $43 handle today. If that happens you may not see another spike like this unless there is real news.
Don't worry this will knock down near 10% of....it just kidding. 220 million shares traded by 1pm....WOW!