{"id":7139,"date":"2010-01-12T14:02:43","date_gmt":"2010-01-12T19:02:43","guid":{"rendered":"http:\/\/www.thedisciplinedinvestor.com\/blog\/?p=7139"},"modified":"2016-09-20T17:42:06","modified_gmt":"2016-09-20T21:42:06","slug":"amgen-amgn-ceo-comments-and-lowering-guidance","status":"publish","type":"post","link":"https:\/\/thedisciplinedinvestor.com\/blog\/2010\/01\/12\/amgen-amgn-ceo-comments-and-lowering-guidance\/","title":{"rendered":"Amgen (AMGN) &#8211; CEO Comments and Lowering Guidance"},"content":{"rendered":"<p>Amgen was put up one of the best ideas for 2010 by Blackrock&#8217;s Bob Dole this morning. At the same time, we seeing the following notes from the recent JP Morgan Healthcare Conference regarding Amgen (AMGN):<\/p>\n<ul>\n<li>Amgen Plans To Remain Active In Acquisitions, Licensing<\/li>\n<li>Amgen Ceo Sharer Says 2009 Eps Slightly Below Midpoint Forecast<\/li>\n<li>Amgen Ceo Believes Healthcare Bill Will Pass, Says Ceo Makes Remarks At JP Morgan Healthcare Conference<\/li>\n<li>Amgen Will See More Biosimilar Competition In Europe, Ceo Says<\/li>\n<\/ul>\n<p>In addition, Amgen (AMGN) sees 2009 at <strong>low end<\/strong> of view of EPS USD 4.90 &#8211; USD 4.95<\/p>\n<p>Our biggest concern for the company has been the development of the bio-similar competition from several companies including Teva (TEVA). Even though the proposed health care bill (in its latest form) appears to push the creation of \u00a0 &#8220;generic&#8221; version of Amgen&#8217;s drugs further into the future, it is far from a done deal.<\/p>\n<p>On a technical basis there is plenty of reasons to look at <!--more-->Amgen as a short candidate as well. The general trend down over the past year and volume has been considerably higher on the days the shares sell-off. In addition we have seen several long legged candles which have generally been bullish reversals<\/p>\n<p>These reversals are coming as shares hit support at the $55 level. If support is broken, we see that a 4-6% fall could be seen quickly. Shares are in a tight range between $54 &#8211; $58.<\/p>\n<p>Finally, we see the slow stochastics as a good confirmation of the shorter term trend and continue to short shares in our portfolios until we see a clear break of resistance.<\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/thedisciplinedinvestor.com\/blog\/wp-content\/uploads\/2010\/01\/amgen01122010-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-7140 aligncenter\" title=\"amgen01122010\" src=\"https:\/\/thedisciplinedinvestor.com\/blog\/wp-content\/uploads\/2010\/01\/amgen01122010-1.jpg\" alt=\"\" width=\"606\" height=\"507\" \/><\/a><\/p>\n<p style=\"text-align: center;\">\n<p style=\"text-align: left;\">___<br \/>\nDisclosure: <a title=\"Horowitz &amp; Company\" href=\"http:\/\/www.horowitzandcompany.com\">Horowitz &amp; Company<\/a> clients may hold positions of securities mentioned as of the date published.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Amgen was put up one of the best ideas for 2010 by Blackrock&#8217;s Bob Dole this morning. At the same time, we seeing the following notes from the recent JP Morgan Healthcare Conference regarding Amgen (AMGN): Amgen Plans To Remain Active In Acquisitions, Licensing Amgen Ceo Sharer Says 2009 Eps Slightly Below Midpoint Forecast Amgen [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[12,253],"tags":[483,486,490],"class_list":["post-7139","post","type-post","status-publish","format-standard","hentry","category-markets","category-strategy","tag-markets","tag-short-ideas","tag-stocks","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"acf":[],"_links":{"self":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/posts\/7139","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/comments?post=7139"}],"version-history":[{"count":0,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/posts\/7139\/revisions"}],"wp:attachment":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/media?parent=7139"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/categories?post=7139"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/tags?post=7139"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}