This week will be dominated by how consumers are reacting to rising gas prices. Consumer spending accounts for 70% of total economic activity, so analysts and investors alike will be glued to the numbers coming out.
Wall Street will get its first batch of data when consumer confidence numbers are released on Tuesday. Expectations are for a slight decline due to gas prices. A bigger decline would signal that consumers are really pulling back and this could halt the sputtering recovery.
The stocks below had insider transactions that were disclosed on March 23. The transactions themselves took place on or before March 23.
Insiders Buying Watchlist
Swift Energy Company (NYSE:SFY) closed Friday up 2.58% at $29.03. SFY traded 681 thousand shares on Friday and trades 713 thousand shares on average. Charles Swindells (Director) bought 2,000 shares on March 21 at $29.75.
Alleghany Corporation (NYSE:Y) closed Friday up 0.33% at $329.41. Y traded 79 thousand shares on Friday and trades 114 thousand shares a day on average. Joseph Brandon bought 300 shares at $326.82 on March 22 and 200 shares at $329.90 on March 23.
Rentech, Inc. (AMEX:RTK) closed Friday up 1.94% at $2.10. RTK traded 2.5 million shares on Friday, above its daily average of 2.1 million shares. Jeffrey Spain (Senior VP & Tres) bought 29,000 shares at $2.07 on March 21.
Phoenix Companies, Inc. (NYSE:PNX) closed Friday up 7.14% at $2.40. PNX traded 813 thousand shares on Friday, well above its daily average of 558 thousand shares. John LaGrasse (EVP) bought 21,000 shares at $2.19 on March 21 and bought 15,477 shares at $2.20 on March 20.
OPKO Health Inc. (NYSE:OPK) closed Friday up 1.04% at $4.87. OPK traded 900 thousand shares on Friday and trades 1.6 million shares a day on average. Phillip Frost (CEO & Chairman) bought 15,000 shares at $4.81 on March 22.
About Rachel Brook
