November 19, 2018

Tesaro Spikes On Buyout Rumors

Tesaro (TSRO) spiked sharply in trading today after news that the company canceled an upcoming conference. The cancellation of the upcoming investor conference is seen as potential evidence that the company might be in the process of completing a merger. If this is the case, then shares are likely to head significantly higher if a buyout does in fact occur. Therefore, we’ll be watching TSRO carefully. Here’s what happened. Today’s market had a clear bullish inclination, particularly in the overall healthcare sector. The sector ETF XLV was up over +0.90%, but the biotech ETF IBB lagged behind at +0.61%. We saw very strong movement in MRK, which was up over +1.40% and reached a high of $76.10 as of the time this content was created. On the negative side, ACHC was hammered after it was reported that buyout talks with KKR had stalled. The stock was down as low as just above $28.00 per share after opening near $38 at the beginning of the session. Here’s a recap of what happened.

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Patton

Mike Patton took the leap into the markets beginning as a commodities broker in 2005, where he was responsible for identifying trading opportunities and executing trades on behalf of clients. After years as a broker he made the jump to education by joining the team at Trading Advantage, now Prosper Trading Academy.

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