Tuesday, December 14, 2010

Initiated Positions in Genoptix and Emergency Medical Services

I took some quick profits in Beckman Coulter (Ticker: BEC) @ $71.05 (generating a one day gain of 0.32% gain). I’m still looking to buy back into Beckman Coulter in the low 70’s. I initiated some new positions in Genoptix, Inc. (Ticker: GXDX) @ $21.00 and Emergency Medical Services Corp. (Ticker: EMS) @ $64. Both of these companies are for sale as they are exploring “strategic alternatives”. For the time being, I shifted the funds from Beckman Coulter to these companies as I see a bit higher returns versus Beckman Coulter.

Lots of decisions right now… We should hear next week the results of the bidding for Applied Signal Technologies. I’m looking at $36 to $37 per share, but it could end up a tad higher if the bidding gets heated. There’s not much of this type of defense companies around anymore so there will be a scarcity premium. The company has stated that it wants $38, but will the bidders pay up? My gut tells me that Raytheon (Ticker: RTN) gets this company for around $37.


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