DNA - $44 Billion Buyout

07/21/2008 12:00 am EST

Focus: STOCKS

Thomas Aspray

, Professional Trader & Analyst

Roche's offer to buy remainder of Genetech (DNA) at $89 per share might explain the breakout on the weekly chart. This should give the market and biotech some support even though the price is not that much of a premium over last Friday's close.

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