March 02, 2009 at 12:20 PM EST
Schaeffer's Street Stories: Call Volume Swarms Genentech, Inc. as the Shares Battle Resistance

Genentech, Inc. (NYSE: DNA) has collected a respectable gain of 15% during the past 52 weeks, and the shares have bounced more than 20% higher from their Dec. 2 low near the 71 level. The equity's latest upswing has been underscored by support from its 10-day and 50-day moving averages, although resistance in the 88 region continues to stifle the shares' progress.

The stock extended its gains last week, when DNA's board rejected a hostile takeover bid from major stakeholder Roche Holding AG. As investors placed their bets on a sweetened buyout offer from Roche, call volume accelerated on the shares of Genentech.

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Contacts:

Schaeffer's Investment Research
Elizabeth Harrow, 513-589-3800
eharrow@sir-inc.com
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