Medicis Pharmaceuticals (MRX) is trading higher. The stock opened strong after the company reported in-line expected earnings. MRX then gained some midday strength amid takeover chatter. Tradethenews is citing Dealreporter as the source of the chatter, but that has not been confirmed. In any event, the stock is up $1.42 to $21.62 and volume in the options market is running five times the usual, with 5,685 calls and 3,929 puts trading on the day.
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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.