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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (33211)	10/2/1998 4:06:00 PM
From: Joseph G.	Read Replies (1) of 132070

"New" market tool - start the rumor, there will always be enough daytraders who pull the trigger first, think later (if ever). Seems to work 100% lately. <<CHICAGO, Oct 2 (Reuters) - Shares in Monsanto Co. plunged briefly late Friday, then bounced back, on rumors of problems with the company's proposed merger with drug giant American Home Products Corp. (NYSE:AHP - news). Shares in Monsanto were off 5-1/16 at 49-3/16 in heavy trading volume on the New York Stock Exchange just a half-hour from the closing bell. The shares earlier had fallen as low as 46-1/4. ''There were rumors going around that the deal was busted up,'' said an industry analyst who asked not to be named. An arbitrageur close to the transaction, who also asked not to be named, said, ''Monsanto stock was slaughtered on the rumor. Now it appears to be coming back.'' A Monsanto spokeswoman declined to comment. American Home could not be reached. >>

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