Bill Gates Dumps $183.5 Million in Microsoft Stock
Monday, November 10, 2008 | Marie AlbinThat'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 $10 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.
Boardwalk Pipeline Partners LP (BWP)
Boardwalk Pipeline Partners 10% Owner parent company Boardwalk Pipelines Holding Co. has BOUGHT $490 million in BWP stock.
CNX Gas Corp. (CXG)
CNX Gas Corp. 10% Owner Consol Energy has BOUGHT $18 million in CXG stock.
First Industrial Realty Trust Inc. (FR)
First Industrial Realty Trust President & CEO Edwin Tyler, CIO Johannson Yap, and Directors Jay Shidler, Michael Damone, and Robert Newman have BOUGHT $10.45 million in FR stock.
SELLS
Microsoft Corp. (MSFT)
Microsoft Director and Founder Bill Gates has SOLD $183.5 million in MSFT stock.
Marriott Interntional Inc. (MAR)
Marriott Chairman & CEO JW Marriott Jr and insiders John Marriott III, David Marriott, Stephen Marriott, and Harrison Deborah Marriott have SOLD $143.4 million in MAR stock.
CSX Corp. (CSX)
CSX Chairman, President & CEO Michael Ward has SOLD $36.33 million in CSX stock.
NVR Inc. (NVR)
NVR CEO Paul Saville, CFO Dennis Seremet, and President of NVRM Finance William Inman have SOLD $33.35 million in NVR stock.
Celgene Corp. (CELG)
Celgene President & COO Robert Hugin, CFO David Gryska, SVP Graham Burton, and Director Walter Robb have SOLD $22.1 million in CELG stock.
Laboratory Corp. of America Holdings (LH)
Laboratory Corp. Director Thomas MacMahon plans to SELL $17.04 million in LH stock.
Mirant Corp. (MIR)
Mirant 10% Owner hedge fund Harbinger Capital Partners Special Situations Fund has SOLD $16.49 million in MIR stock.
Lear Corp. (LEA)
Lear 10% Owner billionaire Carl Icahn has SOLD $16.15 million in LEA stock.
Apollo Group Inc. (APOL)
Apollo Vice Chairman Peter Sperling and Directo Ann Kirschner have SOLD $13.15 million in APOL stock.
Perrigo Co. (PRGO)
Perrigo Director Moshe Arkin plans to SELL $12.55 million in PRGO stock.
K12 Inc. (LRN)
K12 insiders Michael Milken and Lowell Milken have SOLD $12.04 million in LRN stock.
Acxiom Corp. (ACXM)
Acxiom 10% Owner ValueAct Holdings LP has SOLD $11.49 million in ACXM stock.
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Marie Albin
Managing Editor
The Tycoon Report
Economic Calendar for the week of November 10 to November 14
Friday Nov. 14
10:00 Retail Sales- Importance (A-F): This release merits an A-.
- Source: The Census Bureau of the Department of Commerce.
- Release Time: 8:30 ET around the 13th of the month (data for one month prior).
- Raw Data Available At: http://www.census.gov/svsd/www/advtable.html.
The retail sales report is a measure of the total receipts of retail stores. The changes in retail sales are widely followed as the most timely indicator of broad consumer spending patterns. Retail sales are often viewed ex-autos, as auto sales can move sharply from month-to-month. It is also important to keep an eye on the gas and food components, where changes in sales are often a result of price changes rather than shifting consumer demand.
Retail sales can be quite volatile and the advance reports are subject to rather large revisions. Retail sales do not include spending on services, which makes up over half of total consumption. Total personal consumption is not available until the personal income and consumption reports are released, typically two weeks after retail sales.
10:00 University of Michigan Consumer Sentiment Index
- Importance (A-F): This release merits a B-.
- Source: The University of Michigan.
- Release Time: Preliminary: 10:00 ET on the second Friday of the month (data for current month); Final: 10:00 ET on the fourth Friday of the month (data for current month).
The Michigan index is almost identical to the Conference Board Consumer Confidence index, though there are two monthly releases, a preliminary and final reading. Like the Conference Board index, it has two subindexes - expectations and current conditions. The expectations index is a component of the Conference Board's Leading Indicators index.
Big Picture
Sentiment readings are a reflection of a variety of events rather than an accurate tool for forecasting consumer spending. Gas prices and political events can have an outsized impact on sentiment. In general, these data are of very little economic value. Sentiment has been low all year despite rising consumer spending. This broken clock will now happen to reflect the correct time. The consumer will be pulling back.
