Lorillard (LO) announced that third-quarter net income increased by 6 percent due to higher pricing that offset a decline in cigarette sales. Net income was $283 million, or $2.16 per share, up from $267 million, or $1.94 per share, in the same period last year.
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy — they expect to make money. So let’s look at two noteworthy recent insider buys.
Inland Real Estate Income Trust announced that it will begin selling $1.5 billion in common stock in connection with its IPO, pursuant to a registration statement declared effective by the US Securities and Exchange Commission on October 18, 2012. Inland Income Trust is offering up to 150,000,000 shares of its common stock for sale at $10.00 per share and up to an additional 30,000,000 shares of its common stock for issuance under its distribution reinvestment plan at $9.50 per share.
Boeing (BA) announced stronger than expected earnings, and raised its full year forecast. The company earned $1 billion, or $1.35 per share, versus $1.1 billion, or $1.46 per share, in the same period last year, due to improved defense spending and more aircraft deliveries.
Finance Minister Jim Flaherty joins consumer protection groups to announce new rules for prepaid credit cards.
A handful of disappointing quarterly earnings reports sent the markets into negative territory today, as did concerns over Spain’s economy. Chemical company DuPont (DD) missed profit expectations and slashed its earnings forecast.
Cleco (CNL) was upgraded by Goldman Sachs (GS) to buy as the company has been experiencing above average growth. Shares are higher by about 1.9 percent.
Access Midstream (ACMP) was downgraded by UBS (UBS) from buy to neutral with a price target of $37, as the firm believes the stock price to be fully valued at current levels. Shares are lower by nearly 2.5 percent.
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy — they expect to make money. So let’s look at two noteworthy recent insider buys.
Duke Energy (DUK) was upgraded by JP Morgan (JPM) to overweight from underweight with a price target of $71 due to an above-average dividend, and a favorable regulatory environment. Shares are lower by about three quarters of a percent.
