October 29, 2010
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Impax Laboratories (Nasdaq: IPXL ) shares are down 10% in trading today.
So What: Impax reports earnings Monday, and the stock is moving in advance of that announcement. There wasn't any news released by the company, so it looks like a speculative move today.
Now What: Stocks usually move after earnings, but investors are betting Impax will disappoint this quarter. Of course, the whisper number could be out to a few traders dumping shares before earnings, but that would never happen, right? Either way, I'm not making a move until I hear something from the company Monday.
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