Starbux (SBUX) announced yesterday they were buying Bay Bread, a small bakery chain from San Francisco. Panera Bread Co. (PNRA) opened lower this morning on the news, as folks worried that the deal may effect Panera Bread Co.'s(PNRA) growth.
The only thing I think it will do short term, is bring attention to a stock that should be trading closer to $200 then $100.
We positioned ourselves with June $145 calls at .95, and June $150s at .40. The stock is currently trading at $138.76, and think she flies when she breaks the 200 dma at 139.31