Insider Buys and Sells: Weekly Wrap-Up
Monday, January 19, 2009 | Tycoon StaffRating:
For all the analysts and pundits in the financial media, there is still no better judge of a company's health and future prospects than the owners and executives of those companies themselves, along with major institutional shareholders.
That's why insider buying and selling is a critical piece of data that is monitored by people who invest for a living.
As part of our continuing effort here at The Tycoon Report to level the playing field between individual investors and the fat cats on Wall Street, we're keeping you informed -- on a daily basis and at no cost whatsoever -- of the most significant insider buying and selling.
Below is a weekly re-cap of the past week's activity of insider buys and sells of $5 million or more. We publish this re-cap every Monday, and it can be accessed in your email issues or on the Tycoon Report website.
Very important note: While these Monday re-caps are available on the Tycoon Report website, if you want the most timely information we provide on insider buying and selling you've got to be sure and read the email issues that we send each weekday morning.
That's why insider buying and selling is a critical piece of data that is monitored by people who invest for a living.
As part of our continuing effort here at The Tycoon Report to level the playing field between individual investors and the fat cats on Wall Street, we're keeping you informed -- on a daily basis and at no cost whatsoever -- of the most significant insider buying and selling.
Below is a weekly re-cap of the past week's activity of insider buys and sells of $5 million or more. We publish this re-cap every Monday, and it can be accessed in your email issues or on the Tycoon Report website.
Very important note: While these Monday re-caps are available on the Tycoon Report website, if you want the most timely information we provide on insider buying and selling you've got to be sure and read the email issues that we send each weekday morning.
BUYS
Penwest Pharmaceuticals Co. (PPCO)
Trimeris, Inc. Director Kevin Tang has BOUGHT just over $2 million in PPCO stock.
View Details
Republic Services, Inc. (RSG)
Cascade Investment LLC has BOUGHT $12.7 million in the waste management company's stock.
View Details
James River Coal Co. (JRCC)
Steelhead Partners has BOUGHT just over $9.3 million in JRCC stock.
View Details
Netezza Corp. (NZ)
Company Director Paul Ferri has BOUGHT just over $1.4 million worth of NZ stock.
View Details
Stericycle Inc. (SRCL)
Two SRCL Directors have BOUGHT a combined $1 million in company stock.
View Details
SELLS
Cliffs Natural Resources Inc. (CLF)
Harbinger Capital Partners has SOLD nearly $36 million in CLF stock.
View Details
Analog Devices, Inc. (ADI)
VP of Worldwide Manufacturing Robert Marshall has SOLD $2.3 million worth of ADI stock.
View Details
Family Dollar Stores Inc. (FDO)
Senior Vice Presidents Charles Sowers and Janet Kelley have SOLD more than $1 million each in FDO stock.
View Details
Global Payments, Inc. (GPN)
Chief Operating Officer James Kelly has SOLD nearly $700,000 in GPN stock.
View Details
MSC Industrial Direct Co, Inc. (MSM)
Lone Pine Capital LLC has SOLD more than $29 million worth of MSM stock.
View Details
Economic Calendar for the Week of January 19 - January 23
Thursday, January 22, 2009
08:30 Housing Starts and Building Permits
Release Details
* Importance (A-F): This release merits a B-.
* Source: The Census Bureau of the Department of Commerce
* Release Time: 8:30 ET around the 16th of the month (data for one month prior).
* Raw Data Available At: http://www.census.gov/const/www/newresconstindex.html.
Housing Starts are a measure of the number of residential units on which construction is begun each month. A start in construction is defined as the beginning of excavation of the foundation for the building and is comprised primarily of residential housing. Building permits are permits taken out in order to allow excavation. An increase in building permits and starts usually occurs a few months after a reduction in mortgage rates. Permits lead starts, but permits are not required in all regions of the country, and the level of permits therefore tends to be less than the level of starts over time.
The monthly national report is broken down by region: Northeast, Midwest, South, and West. Briefing recommends analyzing the regional data because they are subject to a high degree of volatility. The high volatility can be attributed to weather changes and/or natural disasters. For example, an unexpectedly high level of rain in South could delay housing starts for the region.
08:30 Initial Claims
Release Details
* Importance (A-F): This release merits a C .
* Source: The Employment and Training Administration of the Department of Labor.
* Release Time: 8:30 ET each Thursday (data for week ended prior Saturday).
* Raw Data Available At: http://www.dol.gov/opa/media/press/eta/main.htm.
Initial jobless claims measure the number of filings for state jobless benefits. This report provides a timely, but often misleading, indicator of the direction of the economy, with increases (decreases) in claims potential signalling slowing (accelerating) job growth. On a week-to-week basis, claims are quite volatile, and many analysts therefore track a four week moving average to get a better sense of the underlying trend. It typically takes a sustained move of at least 30K in claims to signal a meaningful change in job growth.
There are two other statistics in this report -- the number of people receiving state benefits and the insured unemployment rate; neither is watched closely by the market. Some analysts track the number of people receiving state benefits from month to month as a guide for job growth, though this series has a poor track record in predicting the monthly employment report. The insured unemployment rate changes little on a weekly basis and is never a factor for the market.
