Forest Labs director sells 500,000 shares

By
A A A

Bobby Raines 01/29/2014

Howard Solomon, who sits on the board of directors at Forest Laboratories ( FRX ) , sole 250,000 shares of the company's common stock on Jan. 23 and another 250,000 shares between Jan. 24 and Jan. 27. At $67.13 per share, Solomon pulled in $16,782,500 from the Jan. 23 sale. The second sale was at $64.32, giving Solomon another $16,351,534.

IK-> The technicals for FRX ($65.51 down $0.59) are bullish with a downward trend. The recent support has been around $64.95 and recent resistance has been around $69.97. Standard & Poor's has a three STARs (out of five) rating on the stock. Look at the May 75/80 bear-call spread for a 35-cent credit. That's a 7.53% return and the stock has to rise 14.5% to cause a problem.  [InvestorsKeyhole, Various news and data services]



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Originally published on InvestorsObserver.com


This article appears in: Investing , Options

Referenced Stocks: FRX

InvestorsObserver

InvestorsObserver

More from InvestorsObserver:

Related Videos

Stocks

Referenced

Most Active by Volume

48,099,947
  • $16.09 ▲ 0.50%
40,277,806
  • $102.50 ▲ 0.24%
40,236,499
  • $19.57 ▲ 2.35%
31,092,510
  • $49.75 ▲ 0.65%
30,795,218
  • $34.92 ▲ 0.78%
29,910,855
  • $3.63 ▲ 0.83%
24,019,154
  • $13.06 ▼ 0.38%
23,753,906
  • $74.82 ▲ 1.31%
As of 8/29/2014, 04:04 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com