Monday, February 12, 2007

Is Alcoa in Play?!?(AA)

Never say never to anything any more. The Times of London is reporting that BHP Billiton and Rio Tinto are both considering competing bids for Alcoa. AA would be valued at $40 bln.

And wouldn't you know it. Today more than 1,000 AA Feb 30 calls traded after only 61 traded on Friday. How come I missed that buy memo? The Feb 32-1/2 were a bit heavier today and Friday.

AA is up over $3 after hours and will give the Dow a hearty boost tomorrow.

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