Goldman Sachs Closes Out Two Losing Trades

Goldman Sachs is out with a research note this morning, where it issues closing trade alerts for Johnson & Johnson JNJ and Vertex Pharmaceuticals VRTX. The analysts recommend that investors close out their trade recommendation to buy the $67.50 July calls in Johnson & Johnson, now bid $0.78, at a small loss versus their May 18, 2011 recommendation to buy the calls at $0.81. They also recommend that investors close their trade recommendation to buy the $55 July calls in Vertex Pharmaceuticals, now bid $0.55, as critical data received today came in below Street expectations. They see the next catalyst for shares as earnings, which is likely to come after July expiration. The analysts previously recommended buying these calls on May 9, 2011 at $3.90. Vertex Pharmaceuticals Incorporated is engaged in the business of discovering, developing and commercializing small molecule drugs for the treatment of diseases. Johnson & Johnson is a holding company. The company and its subsidiaries are engaged in the research and development, manufacture and sale of a range of products in the health care field. It has more than 250 operating companies conducting business worldwide.