Stocks quoted in this article:
PSS World Medical (PSSI – 4-11/32) has plunged two points, or nearly 32 percent, lower this morning on news that Fisher Scientific International (FSH – 30-3/8) ended plans to buy the medical-supply distributor for $746.9 million. PSSI has dropped to an all-time low this morning, while FSH is trading at levels not seen since June 22.
FSH has stepped up by over eight points, or greater than 38 percent, so far today. The stock is trading above its 20-week moving average, which it hasn't finished a week above since late April. The shares are also above their 20-month trendline for the first time in three months.
Options are not available on FSH, while options activity on PSSI has been quiet.