CNTO.. the earnings were spectacular, their drugs are doing fine. Its 10 points below the high. I'm also holding JNJ and LLY options. CNTO fell below resistance of 42 but with such a small beta, I'm not really concerned. Could be like a late blooming AVEI. I might put in a stop at 41 before the close but I'm not selling.
in the last 4 quarters the earnings surprises have been see the bold:
Sep98 Q3 0.05a 0.03 +67.0%
Jun98 Q2 0.03a 0.01 +200.0%
Mar98 Q1 0.02a 0.01 +100.0%
Dec97 Q4 0.04a 0.02 +100.0%
This their trading pattern after last quarter when earnings came out on the 21st of October:
ENTOCOR INC - CNTO - DAILY PRICES
DATE OPEN HIGH LOW CLOSE VOLUME
---------------------------------------------------------------
10/21/98 40.875 40.875 38.250 38.625 4,644,000
10/22/98 39.000 39.250 38.250 38.312 2,467,900
10/23/98 38.250 40.437 36.750 40.250 1,625,100
10/26/98 40.250 41.000 39.062 40.875 988,000
10/27/98 41.125 41.625 39.250 39.687 1,017,400
10/28/98 39.625 41.250 39.250 41.125 612,500
10/29/98 41.250 44.750 41.125 44.625 3,708,700
10/30/98 44.875 44.875 42.750 44.500 2,399,500
11/02/98 46.125 47.750 46.000 46.812 3,675,100
11/03/98 46.750 47.625 46.625 46.875 2,379,000
11/04/98 47.250 48.750 47.125 48.000 2,611,300
11/05/98 47.125 47.875 46.375 46.875 2,108,500
11/06/98 46.562 47.750 45.250 47.250 3,077,600
11/09/98 50.875 52.062 49.687 51.625 9,788,900
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