Saturday, February 3, 2007

Quick Follow Up on Nabors Industries (NBR)

Who knows what will happen with Nabors Industries. That takeover speculation was hot and heavy Friday and options volume was amazingly heavy, especially in the Feb 32-1/2 calls where almost 20,000 traded. The interesting aspect of the speculation is that the company's pr flack refused to comment. Last November the pr guy dismissed the rumors outright. So there is some sort of an agenda going here - either to re-harmonize with a corporate policy of not commenting, or that there may indeed be something in the works since Texas Pacific was named as the potential suitor in the mill, which I have never personally seen, known as the 'Rumor Mill'. Pick your poison; probably nothing will come of the nutty action, but it was unusually active.

More importantly, is that it is interesting to note that Jim Nabors, the actor who played the t.v. character Gomer Pyle, is still alive and kicking at the age of 75. He calls Hawaii home these days where he owns a macadamia nut plantantion and also does some entertaining. Gollly. Nabors is not related to Nabors Industries, but I was reminded of him with all this takeover talk about the company.

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