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When Roche rumbles

Executive Summary

The "Street" shakes. Mid-day April 21 announcement by Roche in Basel of a press conference on Monday, April 24 to "announce measures which are of considerable significance" sent analysts scurrying in search of march-in targets. Syntex has been a favorite rumor; but Roche announcement was apologetically rushed ("we beg for your understanding about the short term of this announcement"), and there isn't any ostensible reason for rushing a move on the California company. The window for breaking up the SmithKline-Beecham deal is more limited.
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