Tyco has traded independently of both Tyco Electronics, Ltd. (NYSE: TEL) and Covidien plc (NYSE: COV) since June 2007. The market cap for the company was $18.3 billion as of last night, which will require fund managers to buy millions of shares.
Tyco Electronics, Ltd. (NYSE: TEL), with an $11.8 billion market cap, is into engineered electronic components, network solutions, specialty products, and undersea telecommunication systems. At $26.57, its 52-week trading range is $20.90 to $32.98. It started trading in the high-$30’s in early 2007.
Covidien plc (NYSE: COV), with a $19.3 billion market cap, is into healthcare products and medical devices for use in clinical and home settings. At $38.59, its 52-week range is $35.59 to $52.48. It started trading in the mid-$40’s in early 2007.
Tyco International (NYSE: TYC) started out of the chute after the spin-offs around $53.00, and that figure is now just under $50.00 if you account for dividend payments made since. Average volume is over 5.9 million shares per day and the only thing that may prevent the volume from going the roof today is that it is a late-August Friday and many professional investors and traders have decided to skip out for a long weekend (or longer). Shares are up 5% at $38.60 right before the open on only about 150,000 shares.
JON C. OGG
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