This post was just published on ZYX Buy Change Alert.
Super computer maker Cray (CRAY) has a $35 cash buyout offer from HPE. There is a 35% probability of a higher bid. In case of a bidding war, price can go as high as $45. Normally a 35% probability does not generate a buy signal. However here there is a 95% probability that the deal with HPE will close at least at $35. This makes the probability adjusted risk reward favorable.
CRAY is trading at $35.21 as of this writing. The buy zone is $34.20 to $35.26, preferably on dips below $34.76.
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China Stocks
Shanghai Composite Index fell as much as 2.8%.