Friday, February 5th, 2010
Today's Most Interesting Story Stocks
General Automotive Company (OTC:GNAU), Mylan Inc. (NASDAQ:MYL), and Human Genome Sciences (NASDAQ:HGSI) are today’s three most interesting story stocks.
General Automotive Soars 66% after Acquisition
General Automotive Company (GNAU, Free Analysis), a provider of original equipment and aftermarket automotive parts, saw its shares jump more than 66% after it signed an agreement to acquire privately held S.P.E.C., Inc. The transaction is expected to further position the company as an organization that capitalizes on both organic growth as well as strategic acquisitions.
S.P.E.C., inc. is a leading provider of high-performance clutches and flywheels to the high performance automotive market. The company reported revenues of approximately $5.6 million in 2009, which General Automotive is hoping to use to position itself in the $256 billion automotive aftermarket parts industry.
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Mylan’s Move to Generics Expected to Pay Off
Mylan Inc. (MYL, Free Analysis), a global pharmaceutical company that develops generic and branded products, moved marginally higher after it was mentioned favorably in an article by Investor’s Business Daily. The article written by Peter Benesh commends the company’s two acquisitions that enabled it to enter the generics market before the economic crisis.
Patents protecting approximately $100 billion a year in brand-name drug sales will expire in 2015, which leaves the door wide open for generic drug makers to profit handsomely. With about 130 generic applications pending at the FDA, the company is extremely well positioned, especially since 40 of them could be very profitable first-to-file bids.
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Human Genome Takeover Rumors Spur Options
Human Genome Sciences (HGSI, Free Analysis), a commercially-focused biopharmaceutical company, shares moved up on higher-than-usual volume after takeover rumors led to an increase in call option activity.
The company’s February 2010 call options traded heavily during the session with just 14 days left until expiration. The heaviest were the 32 Feb 2010 calls, which traded nearly 4,300 contracts, while the 30 and 31 calls also saw high volume.
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Written by Simon Monger
