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Long

Long AKRX (Akorn Inc) Short PKD (Parker Drilling Company) Spread

The Long/Short Equity spread of AKRX/PKD has just broken out to a new high and finished Friday's trading session at the high of 12.82.

Akorn Inc             (pharmaceuticals) has reported consistently good earnings with an EPS             change of 80% in the last quarter and also an annual ROE (Return on Equity ) of 27.1%. It trades at a slightly higher P/E ratio of 48 which has been justified so far by the continued increase in EPS             , with the next results due in March 2015.

Parker Drilling             is one of many oil             sector stocks which is now trading at a 52 week low with poor EPS             results and an outlook to match. Trading at only $3, one may ask how much lower it can go although there is no sign of let up on the price of oil             just yet and so oil             sector stocks will continue to match accordingly.

It is just as easy to substitute this stock for many others in the same sector, such as OAS             for example.

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