Options Trading News

November 7, 2011  Mon 7:26 AM CT

Deal Values Tekelec at $780 Million

Tekelec, a maker of networking technology, agreed to be purchased by Siris Capital for $11 a share. TKLC pops 11 percent before the bell.

Pharmasset Lifted by Hep-C Data

Pharmasset released data over the weekend showing promise of its PSI-7977 compound in fighting Hepatitis C. Those results were from a Phase II trial, and now support the case for more advanced Phase III testing. VRUS climbs 9 percent in the premarket.

Omnivision Lowers Outlook

Omnivision Technologies cut its outlook in a preliminary earnings release because of an "unexpected cutback in orders." Management now sees revenue of now more than $217 million, down from an earlier $255-275 million estimate. OVTI drops 17 percent in the pre.
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As I stated in last week's article, a break out or a break down needs to have a couple things happen before it is considered a confirmed break out or break down. The only problem is that in today's market where things move much more quicker than they did just a few years ago, two days could wind up being the majority of the expected movement, if not the whole movement.

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