Will he or won't he? Rumored defection of AstraZeneca chief Soriot to Teva may not be a fait accompli; Teva down 4%, AZN up 4%

|About: AstraZeneca Group plc (AZN)|By:, SA News Editor

Teva Pharmaceutical Industries (TEVA -4.2%) retraces a good bit of its past two-day rally on more than a 50% spike in volume while AstraZeneca (AZN +3.9%) regains much of its recent drop, also on higher volume. The stocks initially moved in opposite directions on the news that AZN CEO Pascal Soriot would take the top spot at Teva but many observers believe that he may stay put.

Previously: Teva to tap AstraZeneca's Soriot as new chief (July 12)

Update: Bloomberg reports that informed sources say Mr. Soriot will remain at AZN.

Update: Mr. Soriot is scheduled to participate in the company's Q2 results presentation on July 27 reports John Carroll.