United Technologies Corporation (UTX) announced its quarterly dividend of 53.5 cents per share, an increase of about 11% over its prior dividend in May of 48 cents. The dividend will be payable on September 10 to shareowners of record at the close of business August 17.
Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
The Daily Ticker’s Aaron Task and Henry Blodget discuss oil prices with Daniel Yergin
This is what’s in the news for Monday, June 13 2012. The Wall Street Journal reports borrowing costs for Italy and Spain continued to rise, increasing calls for bigger moves from euro zone leaders amid a new warning that the crisis is dragging down even the world’s resilient emerging economies. The Wall Street Journal also reports the Justice Department is conducting an antitrust investigation into whether cable companies (CMCSA, TWC) are acting improperly against competition from online video (NFLX, NWSA, DIS), sources say. The Wall Street Journal also reports Facebook (NASDAQ:FB) began a PR campaign to fight back against criticism that advertising on the social network isn’t effective. Reuters reports Chesapeake Energy”s (NYSE:CHK) board is nearing a decision on who its new independent chairman will be, a board member says. Finally, Bloomberg reports Bank of America (NYSE:BAC) divested a $1.3B credit-card portfolio after SLM Corp. (NYSE:SLM) selected Barclays (NYSE:BCS) for its college savings program.
Investors remained cautious today as they took in a handful of lackluster economic data, but the markets did manage to recover from the lows of the day. The latest report from the Labor Department shows a one percent drop in producer prices in May.
Invesco (IVZ) today had its estimates and price target reduced by BMO (BMO) due to lower market performance, as well as currency transcations. A $27 price target was issued with an outperform rating.
The markets struggled to find direction this morning in volatile trading, influenced by news of Fitch’s downgrades of 18 Spanish banks. By the afternoon, all the major indices were in positive territory.
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.
The Daily Ticker’s Aaron Task talks to Zanny Minton Beddoes.
The Daily Ticker’s Aaron Task and Henry Blodget discuss the fading American Dream.
