Thursday, April 20, 2006

Genzyme Recovery

Genzyme (Ticker: GENZ) recovered a bit today and closed up 2% to close at $61.87 after yesterdays little earnings disappointment. The CEO of Genzyme, Mr. Termeer, called the stock decline a "massive overreaction" and said the company was sticking to full-year earnings guidance of $1.78 to $1.88 a share. Like I said before, the stock will be dead money until we see the Q2 numbers. I accept the company’s explanation for the revenues and earnings short fall. I’m not selling any shares at these levels.


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