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Stephen Rosenman
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Stephen Rosenman enjoys analyzing the financial health of companies and pointing out areas the market is either not recognizing or ignoring. A long time investor, I put my money where my mouth is. That's why I'm passionate about my positions. I trumpet companies I believe in and back my articles... More
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Stephen Rosenman
  • A Happy New Year Awaits Alcon's Shareholders (ACL NSRGY NVS) 0 comments
    Dec 2, 2009 5:29 PM

          As I wrote here (seekingalpha.com/article/157961-three-wa...), starting on January 1, 2010, Nestle's has the right to sell its 52% share of Alcon to Novartis for 20.5% above the price that ACL has been trading to a maximum of $181.  ACL has been steadily climbing toward the magic number of $150, the price at which the $181 can execute.  Today, ACL blew past that price of $150 on extremely strong volume.  Normally, 603,000 shares of ACL trade.  Today 4.09 million shares changed hands propelling the stock up to $158.10, a 5.57% gain. The company has a 68 million share float.  It would seem that investors are looking at the calendar and realizing that New Year's is fast approaching.

    Disclosure: long ACL

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