Investors are pouring into biotech hoping to catch the next takeover target after shares of Medarex soared on the news that Bristol-Myers agreed to pay $2.4 billion to acquire the company.
How are the Fast Money traders gaming it? Find out now. Watch the video!
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Trader disclosure: On July 23rd, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Terranova Owns (MCD), (AXP), (AMZN), (MSFT), (QCOM), (SUN), (FTO), (SU), (GS), (APA), (GOOG), (IBM), (INTC), (XBI), (BNI); Finerman Owns (RIG); Finerman's Firm Owns (MSFT), (NOK), (PBR), (RIG), (WMT); Finerman's Firm Is Short (USO), (IJR), (IYR), (IWM), (MDY), (SPY); Finerman's Firm Owns (WFMI) Calls; Finerman's Firm And Finerman Own (BAC) Preferred Shares; Finerman's Firm And Finerman Own (WFC) Preferred Shares, Finerman's Firm Is Short (WFC); Grasso Owns (BAC), (BA), (COST), (CSCO), (V), (WMT), (CLF); Grasso's Company Owns (ABT), (MSFT), (GERN), (NYX), (XOM), (SDS); Grasso's Company Is Short (QQQQ)