This is the first week of the new quarter, Pfizer merely lowered its forecast and the stock (PFE) took a hit (down ~3%), Bayer AG CEO makes some general comments on "Merger of Equals" and what we see is unusual is the after hours volume of over 9 million (9,059,303) for BMY (bristol myers squibb) on a day where the company's stock already saw a healthy 1% rise on a flat/down day for the broad market (DJI flat, SPX down .34%).
BMY average daily volume is
Now whether BMY's Ah trades are fueled by specualtion or rotation of PFE money into BMY or just a quarterly rotation into a more healthier BMY - is all up for speculation. But one thing positive for BMY seems that it has lot of momentum going forward.
Nasdaq After hours
No positions in any of the mentioned stocks. Might add BMY on pullback.
UPDATE: Suspicious trades cancelled by NASDAQ. https://research.scottrade.com/qnr/Stocks/Article?dockey=100-124r6288-1
BMY average daily volume is
Now whether BMY's Ah trades are fueled by specualtion or rotation of PFE money into BMY or just a quarterly rotation into a more healthier BMY - is all up for speculation. But one thing positive for BMY seems that it has lot of momentum going forward.
Nasdaq After hours
No positions in any of the mentioned stocks. Might add BMY on pullback.
UPDATE: Suspicious trades cancelled by NASDAQ. https://research.scottrade.com/qnr/Stocks/Article?dockey=100-124r6288-1
Suspicious Off-Hour Trades Cancelled By Nasdaq, NYSEInvestrendMay 4, 2011 (FinancialWire) ("The Small Cap News Leader" http://www.financialwire.net/) -- Nasdaq OMX (NASDAQ: NDAQ) and NYSE Euronext (NYSE: NYX) are reportedly reviewing as many as 50 health care trades made after the close of trading Tuesday. Trades in Aetna (NYSE: AET), Abbot Laboratories, Bristol-Myers Squibb (NYSE: BMY), Pfizer (NYSE PFE), Merck (NYSE: MRK), Eli Lilly (NYSE: LLY), Johnson & Johnson (NYSE: JNJ) and other companies reportedly were canceled or seemed potentially erroneous and were being scrutinized.
Nasdaq reportedly canceled some of the trades, which had led to spikes in the after-hours trading of several stocks.
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