Month: September 2012

This week, two Canadian companies filed their preliminary prospectus with the securities regulatory authorities. Crius Energy plans to offer trust units underwritten by Scotiabank, RBC Capital Markets and UBS.

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.

This morning, Goldman Sachs upgraded shares of Goodyear Tires (GT) from neutral to buy as sales and pricing are improving. With the upgrade, Goldman set a $17 price target.

Late Wednesday, Pall Corporation (PLL) declared its quarterly dividend of 25 cents per share, an increase of about 19% over its prior dividend. Based on the current stock price, investors can expect a yield of about 1.6% going forward.

This morning, Goldman Sachs initiated coverage on shares of Cooper Tire (CTB) with a neutral rating as the company could face headwinds stemming from a global economic slowdown. With the neutral rating, Goldman set a price target of $25 per share.

British Prime Minister David Cameron says he can get along well with Republicans and Democrats. Cameron, who’s in New York for the United Nations General Assembly, appeared on Late Show with David Letterman.

Staples (NASDAQ:SPLS) announcing a slew of store closures to begin a new strategic business plan. The office products company announced it will be speeding up 15 closures in the U.S. and plans on closing 45 stores and some delivery businesses in Europe.Staples says the plans will help promote growth as well as heighten the customer experience. The company expects the closures could result in charges of $145 million to $195 million by the end of fiscal 2012.Currently, Staples stock is falling on this news. Shares of the company are trading over 2 percent lower to $12.04.

Caterpillar (NYSE:CAT) lowered its profit forecast for 2015 to $12 to $18 per share, from $15 to $20 per share previously. The construction equipment maker also lowered its revenue projection to between $80 billion and $100 billion.The company said the reason for the cut in forecast was due to the slower-than-expected growth in the global economy. For the current year, the company says it sees revenue to come in about $2 billion below its previously projected range of $68 billion to $70 billion.Caterpillar’s stock not fairing well so far in today’s trading. Shares of the company are down 2 percent to $88.83.

The markets made a bit of a recovery from the lows of the day but remained in negative territory amid lackluster economic data and ongoing concerns over the euro zone. The Commerce Department said that new home sales edged down 0.3 percent to a seasonally adjusted 373,000-unit annual rate, falling short of economists’ expectations.

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.