Genzyme Lifted By Takeover Speculation
Filed under: Major Movement, Deals, Good news, Rumors, Options, Technical Analysis, Genzyme (GENZ)
Genzyme (GENZ – option chain) shares are rising today on a report in the Wall Street Journal which says that Sanofi-Aventis SA (SNY) could make a formal takeover offer to GENZ’s board that could be worth about $20 billion. SNY declined to comment on the report. If you think that the stock won’t fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on GENZ.
GENZ opened this morning at $70.31. So far today the stock has hit a low of $69.97 and a high of $70.97. As of 11:55, GENZ is trading at $70.09 up $2.09 (3.1%). The chart for GENZ looks bullish and S&P gives GENZ a positive 4 STARS (out of 5) buy ranking.
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Genzyme Lifted By Takeover Speculation originally appeared on BloggingStocks on Thu, 29 Jul 2010 13:30:00 EST. Please see our terms for use of feeds.
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