ATLANTA, Feb. 19, 2001 (PRIMEZONE) -- The following is being issued by WinningInvestments.com: While many companies have continued to struggle in the first quarter of 2001, Forest Labs (NYSE:FRX) has had its share of good news as of late.
In late January, FRX received good news when Biovail Corp. won a new patent on Tiazac, a drug it licenses to FRX, placing it in the "Orange Book" of the FDA. Once a new patent lands into the Orange Book, the FDA usually refuses to approve generic drugs for up to 30 months. Also, FRX announced on Jan. 16, 2001 that sales for its latest quarter had increased 32% from the same year ago quarter.
WinningInvestments.com (http://www.WinningInvestments.com), a leading Internet-based stock information site that provides covered call selections and investment strategies, recently highlighted FRX in its Newsletter. The investment Website sends out, via e-mail, its Newsletter, which contains news, commentary, education and covered call highlights, at the close of the market on Monday, Wednesday and Friday.
WinningInvestments also selected FRX as one of its potential covered call candidates for its Website. The company lists its covered call candidates on its Website three times per week.
Forest Labs currently has five analysts recommending it as a strong buy, 10 as a buy, and one as a hold. FRX is currently trading at $65.24, with the bid on the May 2001 $65 call at $6.6. This gives downside protection of 10.1% and a yield, if called, of 9.7%.
Investors who are unfamiliar with covered calls can learn about this investment method at www.WinningInvestments.com. WinningInvestments.com usually offers investors a free 10-day trial, where they can view the services with no risk or obligation. Between now and Feb. 26, 2001, members can receive a 15-day trial by stating "15-day trial" in the "How did you hear about us?" section of the registration page. To visit their site, go to http://www.WinningInvestments.com .
WinningInvestments.com also offers six different categories of covered call selections and nine different investment strategies. The covered call selections are updated on the Website each week on Tuesday, Thursday and Sunday. The strategies include three different strategies for Dogs of the Dow, aggressive and conservative investors.