Teva Gets A Boost From Apollo Stake

Teva Pharmaceutical Industries Ltd (ADR) TEVA shares are trading higher by 60 cents (5.5 percent) at $12.35 in Wednesday's session.

After Tuesday's close, Apollo Management revealed in a 13F filing that it took a new stake in the beaten-down generic drug maker.

For the fifth day in a row, Teva's stock found support in a narrow range surrounding the $11.50 area from $11.41 to $11.52. In today's session, it bottomed at $11.49 and began to move higher.

So far, the ensuing rally found resistance just ahead of its November 6 high ($12.57) as $12.54 stands at the high for the session as of 1:07 p.m. EST.