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Biotech / Medical : Monsanto Co.

MTC 2.120

+4.7%

Nov 18 3:59 PM EST

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To: Anthony Wong who wrote (644)	12/1/1998 12:39:00 PM
From: Dan Spillane	Read Replies (1) of 2539

Most people don't really understand what the drug is for. That's why the Reuters news can report what appears to be a misleading story. I guess Bloomberg news you pay for so it doesn't do that kind of thing. You often wonder if any trading activity is tied to such partial news items in free Reuters news. It looks to me like Reuters news took an item out of a different context and made it look like it applied to the main question of approval. The Bloomberg article appears to put the question in the correct context. Now it looks like the market decided the drug won't be approved for use. Except, Merck stock isn't moving. Can't make any consistent sense of this, except panic induced by the Reuters story.

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