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| PLAY >New Drops |
Tuesday, December 12, 2000 |
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New Split Drops
No New Split Drops
New Candidate Drops
| BMET - Biomet $38.00 +0.88 (+0.19) |
We have been playing Biomet for six weeks, but that's coming to an end tonight. Due to our policy of exiting plays before earnings are announced, we had to exit this position at today's close. Analysts are expecting profits of $0.29. Those of you who are still in this play could get a favorable exit price if the earnings are solid and the company does announce a split.
| GELX - Geltex Pharmaceuticals $47.81 -0.18 (-13.56) |
A sharp drop in GELX shares may be explained by the company's pending merger agreement with Genzyme General (GENZ). Under the terms of the agreement, GelTex shareholders can elect to receive 0.7272 of a share of Genzyme General common stock or $47.50 in cash for each GelTex share owned. We believe that the recent valuation above the $47.50 mark may be the best explanation for Monday's $13.25, which annihilated our $52.00 stop. Interestingly, GELX did not issue a press release explaining the decline, so the potential merger is the best explanation we can find.
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