Month: October 2012

The Daily Ticker’s Henry Blodget talks to Gary Shilling about the state of the housing market.

US fell Thursday afternoon after Google (GOOG) posted weaker than expected results, and due to mixed economic data. Shares of Travelers (TRV) were higher after the company reported that net income more than doubled.

Philip Morris (PM) announced that third quarter earnings per share were $1.45, 5.8% higher than the same period last year, and beating estimates of $1.39. Excluding exchange rate fluctuations and acquisitions, net revenue increased by 3.4% mainly due to higher pricing.

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.

Marriott Vacations Worldwide (VAC) announced a slim profit and higher revenue for its fiscal third quarter. The timeshare company said it earned $6 million, or 17 cents per share, versus a loss of $221 million a year ago.

EQT Corporation (EQT) maintained its quarterly dividend of 22 cents per share. The dividend of 22 cents per share is payable on December 1, 2012, to all holders of said common stock of record at the close of business November 9, 2012.

American Eagle (AEO) was upgraded by Wells Fargo (WFC) to outperform from market perform as the business is being turned around by the new management team. Shares are higher by about 1.25 percent.

In trading on Thursday, metals & mining shares were relative leaders, up on the day by about 1.7%. Leading the group were shares of Prospect Global Resources (PGRX), up about 9.9% and shares of James River Coal (JRCC) up about 8.9% on the day.

Verizon Communications (VZ) announced that quarterly profit increased by 16 percent, due to higher revenue from its data business and iPhone sales. The company said it was on track to meet 2012 goals.

The Natuashish Innu band has been struggling to pay its employees since August, but financial audits obtained by CBC News show that spending began spiralling out of control three years ago