Procter & Gamble (NYSE: PG) closed at $70.91.
- On 10/1/07 The Financial Times Merger Market reported PG is looking to sell its Duracell unit, as well as its Pringles and Folgers units according to sources close to the matter.
- PG overall option implied volatility of 19 is near its 26-week average of 18 according to Track Data, suggesting non-directional risk.
Hershey (NYSE: HSY) closed at $47.41.
- HSY Chairman and CEO Rick Lenny resigned.
- Alex Brown says: "We retain our Hold opinion, but lower our target from $48 to $45. With CEO Lenny leaving at 2007-end, we believe fundamental pressures and less likelihood of sale point to a lower valuation."
- HSY overall option implied volatility of 23 is near its 26-week average of 22 according to Track Data, suggesting non-directional risk.
Daily options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.
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Reader Comments (Page 1 of 1)
10-02-2007 @ 8:29PM
Seth said...
P&G retained the Blackstone Group to advise them on selling Duracel, Pringles, and Folgers. Interestingly enough, according to NewsVisual P&G and Blackstone have some surprisingly strong ties through the Council on Foreign Relations http://www.newsvisual.com/newsvisual/2007/10/council-on-fore.html Most likely the early stages of the deal started here.