Seeking Alpha
  • Joseph P. Porter
    $PFE down because it won't buy $ONXX. At current valuation, no one should buy $ONXX - way overvalued.
    7/18/13
    Reply (15)
    • DAG1996: agree. makes no sense for $PFE to be down on this news. this is no one-trick pony.
      7/18/13
    • Joseph P. Porter: I should think the stock that would be going down would be $ONXX, since it is probably 7 times its worth, at the very best.
      7/18/13
    • DAG1996: exactly. i had just finished reading somewhere that $PFE is "trading down on the announcement that it won't pursue an Onyx bid".
      7/18/13
    • Joseph P. Porter: You'd think $PFE would be trading up because it is showing good business sense. Even $BAY isn't nibbling. %-P
      7/18/13
    • DAG1996: Maybe if the market were rational, which hasn't been my experience. In fact, the predictable irrationality makes me money so I don't mind it
      7/18/13
    • Ocean Man: Big deal, down 0.6%. $BMY, $MRK, and $LLY were down twice that today.
      7/19/13
    • Joseph P. Porter: As I don't own those, they are of no consequence to me. That I own $PFE is of consequence. If you own any of those 3, I feel your pain.
      7/19/13
    • Ocean Man: They should be of consequence to you, or your comments won't look very intelligent.
      7/19/13
    • Ocean Man: You complain that your stock is down on good news, yet it is down far less than peers due to its good news, which makes perfect sense.
      7/19/13
    • Ocean Man: In short, it is trading up, from where it would be in the absence of this news.
      7/19/13
    • Joseph P. Porter: This is all relative - $LLY has been more or less down all year. $MRK has not been doing as well as $PFE this year. Not sure $BMY. By
      7/19/13
    • Joseph P. Porter: your thesis, all peers should be expected to move in the same direction, which I think is fundamentally flawed - except when industry-wide
      7/19/13
    • Joseph P. Porter: influences are at work. Are there such in pharms? I don't know. My point is simply that my concerns are bounded by my portfolio - not in
      7/19/13
    • Joseph P. Porter: my portfolio? Concern limited only to curiosity. As to my concern about $PFE, was based on news item that failure to bid on $ONXX was the
      7/19/13
    • Joseph P. Porter: factor relevant to loss in value, which, given the obvious over-valuation of $ONXX seems counter-intuitive. Make of it what you will.
      7/19/13