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WCI Comm WCI (news,
chart,
quote) - WCI implied volatility at 42: WCI asserts leverage to control Future
WCI, a community's home builder, is recently up .85 to $21.27. WCI announced "one right will be distributed for each of WCI common stock outstanding at the close of business on 2/9/07. If any person or group acquires 15% or more of voting power of the Company's outstanding common stock without the approval of the Board of Directors." As of 1/16/07 Carl Icahn reported holding a 14.57% stake. Large homebuilders have suggested their will be consolidation in the industry. The rights' offering allows WCI to assert its leverage to choices its future ownership structure. WCI over all option implied volatility of 43 is below its 26-week of 46 according to Track Data, suggesting decreasing price fluctuations.
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