OCR Text |
Show The Utah Enterprise Review , January 12, 1977 Page 9h Optionly Market News Sale of Perma-Pa- k to California Firm Consummated II urrtii M. Ketcham, Ph.lK Prince, hinghcinrich X Crccr Vacu-Dr- y, Many investors started the New Year with hope of a good rally, continuing on from Decembers gains. Well, in the first week, the market took off like a poached egg; once again affirming the fact that the majority of investors are generally wrong. For the next few weeks look for the market to be more flat than anything. The secondary issues continue to outperform the rest of the market. Lately two great performances have been turned in by Occidental Petroleum and Houston Oil and Minerals. Both issues have gained over 50 in two months. Some out of the money options, two months ago, have increased 100 times. As a group, the drug stocks appear to have bottomed about a month ago. For now stick with the quality such as Upjohn and Merck. Both are good option writing candidates. For the speculative option buyer, I like 6 month, just out of the money options in Polaroid, Merck, Fluor and Tesoro. And, if you are going to buy these or other options, increase your adds by buying on weakness. Emeryville, Calif., recently acquired all the outstanding shares of Perma-Pak- , a private Salt Lake City based food storage firm, for cash or deferred payments. According to Glade Perry, manager of Salt Lake Perma-Pa- k operations, the strong marketing and extensive research and dev- elopment departments of were principal reasons for the acquisition. About five months of Vacu-Dr- y negotiations preceeded the The purchase, he said. of number shares involved and the total value of the transaction were not disclosed but about 15 share holders of affected. Perma-PaVacu-Dr- y k were is a public company. , a manufacturer and supplier of low moisture foods for industrial and retail consumers has been in Utah for over 20 Perma-Pak- years, although they market all over the U.S. Perry no anticipates change in management as a result of the acquisition. Perma-Pa- k and Vacu-Dr- y anticipate combined sales of $9 million for 1977. FREE PICKUP & DELIVERY Paper Banners Screen Process Graphic Design Magnetics & Decals Convention Signage Machine Showcards 2365 So. Main 2 7 |