Friday, July 12, 2013

More Money Gram and Back in Onyx Pharmaceuticals

I added to my position in Money Gram International  (Ticker: MGI) yesterday at $22.91. I also bought back my position in Onyx Pharmaceuticals (Ticker: ONXX) today at $132.63. These are starter positions (~ 5% of my portfolio) as I wait to see what develops. Other than that not much going on…

13 Comments:

At July 13, 2013, Anonymous Anonymous said...

MT,

Since this seems to be the year for biotech and big pharma M&A rumors and actuals, I may have found a safer way to play versus buying the stock. Can you say ETF. The S&P Biotech ETF moves nicely with rumors and announced deals. Compare the stock charts for XBI when ACT was being pursued by VRTX, when ONXX rumor of offer by AMGN and the latest ALXN rumor Roche is seeking financing. Another observation is when a rumor hits, other bio's and pharma's catch a bid, which is all good for the index. One more observation. When the S&P pulls back due to market uncertainty and it looks like it has leveled off, take a position in XBI. Have you noticed all of the news and rumors on various M&A deals post market correction at the end of June?

One other ETF is FBT, First Trust Amex Biotech Index. The stock weightings are different in each so they may move more or less.

XBI YTD return 32%
FBT YTD return 38%

Are you aware of these these ETF's and have you ever tried them?


Regards,

inforesource7

 
At July 14, 2013, Blogger Money Turtle said...

I have looked at the biotech ETFs in the past such as BBH, which is comprised of many large cap companies. Something to consider in the next market sell off.

 
At July 15, 2013, Anonymous Anonymous said...

MT,

FYI, ONXX down on light volume today, currently $131.91. Watch the following support levels:

$131.33 closing price 07-01-13
$129.44 intra-day low 07-01-13

If these price levels are breached there is a very big gap down to $86 level. I am not predicting this drop but traders are all over the technicals here and would love to see it drop.


Regards,

inforesource7

 
At July 16, 2013, Anonymous Anonymous said...

Thoughts on MGI.. I am planning on waiting till next week. Many deals gets done after OPEX. Don't know the reason
Aapltrader

 
At July 16, 2013, Blogger Money Turtle said...

Deal Reporter saying that things have quieted down with the the private equity bidders. I remember them saying the same thing with True Religion. In any case, it was reported that there were strategic bidders looking at the company as well. I don't think 4 private equity bidders all of a sudden just walk away like that...

 
At July 16, 2013, Anonymous Anonymous said...

MT,

In regards, to MGI, what is OPEX?

dealreporter sources translation, the stock price has run up too much so the bankers or PE's would like it to pull back some and if a deal is announced the take out price will look better.


Regards,

inforesource7

 
At July 16, 2013, Blogger Money Turtle said...

(OPEX) Options Expiration

 
At July 18, 2013, Anonymous Anonymous said...

Weak quarter for ICUI - wonder if the merger arb guys will puke out the paper tomorrow...

 
At July 19, 2013, Blogger Money Turtle said...

It was really one segment that contributed to the companies weakness (critical care). Maybe the company will decide to sell itself at a more realistic price, like $80 that was on the table. Of course, the CEO does not even confirm the hiring of an I Bank to conduct a strategic review. No helpful clues from the conference cal.

 
At July 31, 2013, Anonymous Anonymous said...

MT,

source = theflyonthewall

"Onyx Pharmaceuticals seeing interest from Novartis, Pfizer, dealReporter says
According to contacts, Onyx Pharmaceuticals has moved past the first round of bids and has received incantations of interest from both Novartis (NVS) and Pfizer (PFE), citing sources."


Regards,

inforesource7

 
At July 31, 2013, Anonymous Anonymous said...

MT,

In regards to an OXXX takeout, can you work your magic by trying to handicap who might win the bid, for how much and will it include a CVR?
Will final offer likely be cash only or cash and stock?

Which company will fit the best and makes the most sense? Is there an unknown sleeper?

AMGN, PFE, NVS


Regards,

inforesource7

 
At August 01, 2013, Anonymous Anonymous said...

MT,

ICUI news. ICUI is in exclusive talks to sell itself to private equity firm GTCR, sources told Bloomberg's

GTCR is a PE firm so I bet the potential takeout price is lower than some others may have expected from CFN.


Regards,

inforesource7

 
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