Morphosys Down On Switch Into GPC - Trader
Monday, February 27, 2006 12:00:48 PM ET
Dow Jones Newswires
1535 GMT [Dow Jones] Morphosys (MOR.XE) -9.9% at EUR46.70, while GPC (GPC.XE) +7.7% at EUR15.05. "The charts of the two TecDAX listed companies have looked almost the inverse of each other since Friday," says one trader. Adds Friday the company delivered its 05 figures and a 06 outlook which disappointed the market. "This looks like a massive switch from Morphosys into GPC," he adds.
Monday, February 27, 2006 12:00:48 PM ET
Dow Jones Newswires
1535 GMT [Dow Jones] Morphosys (MOR.XE) -9.9% at EUR46.70, while GPC (GPC.XE) +7.7% at EUR15.05. "The charts of the two TecDAX listed companies have looked almost the inverse of each other since Friday," says one trader. Adds Friday the company delivered its 05 figures and a 06 outlook which disappointed the market. "This looks like a massive switch from Morphosys into GPC," he adds.