Forest Labs director sells 500,000 shares

By Bobby Raines,

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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 Nasdaq, Inc.

Originally published on

This article appears in: Investing Options
Referenced Stocks: FRX

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