Market Overview

Investors Applaud Ending Of Pfizer-Allergan Deal


Pfizer Inc. (NYSE: PFE) shares are trading higher by $1.09 at $32.45 in Wednesday's session. It has added nearly $2 since its deal with Allergan plc Ordinary Shares (NYSE: AGN) was put into jeopardy.

Its rally off today's open found resistance in the area of where six highs were made back in late December (between $32.62 and $32.91), with the rally ending at $32.79.

Related Link: Pfizer Announces Merger Termination With Allergan; Will Pay $150 Million Breakup Fee

After its $40+ drubbing on Tuesday ($277.56 to $236.55), investors did not let the issue go much below the close, as it bottomed at $236 off the open and began to move higher.

The ensuing rally has found resistance well ahead of the lower-end of Monday's range ($268.50), so far only reaching $247.23 and has backed off that level.


Related Articles (AGN + PFE)

View Comments and Join the Discussion!

Posted-In: Technicals Intraday Update Movers Trading Ideas