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Biotech / Medical : Elan Corporation, plc (ELN) -- Ignore unavailable to you. Want to Upgrade?


To: William Partmann who wrote (1905)3/19/2002 4:07:08 PM
From: scaram(o)uche  Read Replies (1) | Respond to of 10345
 
>> Somebody has to come up with a positive spin for the moody's downgrade <<

At $20 billion market cap, Moody's was relevant. At $5 billion, moody's schmoodies. Given the JVs, the company has wandered into the realm of small cap biotech. Moody's has little relevance in our world, and Elan's days of using financial instruments as a route to growth are long gone.

How was that? I can do better, but I don't understand why it must be done.



To: William Partmann who wrote (1905)3/19/2002 4:08:18 PM
From: dalroi  Respond to of 10345
 
they downgrade so we should be at the bottom

on always descends on strong buys (eg enron)
when they downgrade we're ready to go up

how's that for a positive spin ?



To: William Partmann who wrote (1905)3/20/2002 11:20:20 AM
From: arnie h  Read Replies (1) | Respond to of 10345
 
<Somebody has to come up with a positive spin for the moody's downgrade. Anyone?>
Today's lead Business Day article in the NY Times is "Credit Raters Face Inquiry Over Enron". Has to do with the rating agencies coming under sharp criticism for their performance in the Enron debacle. My guess is the rating agencies will be playing defense for a while.