Harman International Industries (HAR) is seeing 8 times its normal trading volume amid takeover chatter. According to Briefing ÃƒÂ¢Ã¢â€šÂ¬Ã…â€œBack in October 2007 KKR and GS Capital Partners canceled their previously announced merger agreement, and bought $400 million of 1.25% senior notes convertible.ÃƒÂ¢Ã¢â€šÂ¬Ã‚Â So, the chatter isnÃƒÂ¢Ã¢â€šÂ¬Ã¢â€žÂ¢t new and it isnÃƒÂ¢Ã¢â€šÂ¬Ã¢â€žÂ¢t inspiring much in the stock price either. HAR has given back early gains and is down 21 cents to $39.40. Nevertheless, opening trades are being seen in the April 40 and 45 calls, with roughly 60 percent hitting on the offer.
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Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.