Stocks turned negative a day after their sharp rally. While some was profit taking after the recent run up, two data points came in as misses. The Dow closed down yesterday nearly 44 points to 13,197. The Nasdaq ended the day essentially flat, down just over 2 points to 3,120.35. Rounding out the mostly flat day was the S&P 500, down almost 4 points to 1,412.
Decliners lead advancers marginally across the major indices. The two major economic data points that were released Tuesday both missed expectations to the downside. Consumer confidence printed a 70.2 down from a 71.6. The Case Shiller Home Price Index hit a 9-year low as housing prices just refuse to recover.
Insider Buying
BB&T Corporation (NYSE:BBT) closed Tuesday down 1.08% at $31.08. BBT traded 5 million shares yesterday and trades 5.7 million shares a day on average. David Boyer (Director) bought 825 shares at $30.78 on March 22.
Duke Realty Corp. (NYSE:DRE) closed Tuesday up 0.35% at $14.33. DRE traded 2.5 million shares yesterday and trades 3 million shares a day on average. Mark Denien (Chief Accounting Officer) bought 200 shares at $24.85 on March 19. Geoffrey Button (Director) sold 7,000 shares at $14.21 on March 23.
Opko Health, Inc. (NYSE:OPK) finished Tuesday down 0.41% at $4.80. OPK traded 1.1 million shares yesterday and trades 1.6 million shares a day on average. Phillip Frost (CEO & Chairman) bought 13,000 shares at $4.86 on March 26.
Insider Selling
DSW Inc. (NYSE:DSW) closed Tuesday down 0.31% at $54.92. DSW traded 444 thousand shares yesterday and trades 532 thousand shares a day on average. Harris Mustafa (EVP) sold 3,341 shares at $53.76 on March 23.
Jabil Circuit Inc. (NYSE:JBL) finished Tuesday down 0.58% at $25.25. JBL traded 2.4 million shares yesterday and trades 2.8 million shares a day on average. William Morean (Director) sold a total of 58,700 shares at $25.55 on March 23.
Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) closed down 3.14% on Tuesday at $116.19. REGN traded 668 thousand shares yesterday and trades 1.2 million shares a day on average. George Yancopolous (EVP, CSO) sold 33,150 shares at $120.24 on March 26.
Target Corp. (NYSE:TGT) closed Tuesday down 1.14% at $58.19. TGT traded 4.1 million shares on Tuesday and trades 6.1 million shares. Laysha Ward (Executive Officer) sold 5,639 shares at $58.17 on March 23.
Discover Financial Services (NYSE:DFS) finished Tuesday down 0.06% at $33.81. DFS traded 7.2 million shares yesterday, 2 million shares more than its daily average. Carlos Minetti (EVP) sold 122,911 shares at $32.62 on March 23. James Panzarino (EVP, Chief Risk Officer) sold 44,903 shares at $33.08 on March 23. Glenn Schneider (SVP, CIO) sold 123,536 at $32.41 on March 23.
Royale Energy Inc. (NASDAQ:ROYL) closed Tuesday down 1.86% at $5.27. ROYL traded 184 thousand shares yesterday and trades 722 thousand shares a day on average. Tony Hall (Director) sold 1,700 shares at $5.50 and 5,300 shares at $5.52 on March 21 and March 23 respectively. Harry Hosmer (Director) sold 10,000 shares at $5.45 on March 21.
Raytheon Co. (NYSE:RTN) finished Tuesday down 0.06% at $52.93. RTN traded 1.8 million shares yesterday and trades 2.2 million shares a day on average. David Wajsgras (SVP, CFO) sold 40,000 shares at $52.03 on March 23. John Harris (VP) sold 10,000 shares at $52.03 on March 23. Thomas Culligan (SVP) sold 19,676 at $52.80 on March 26.
Amazon.com Inc. (NASDAQ:AMZN) closed Tuesday up 1.27% at $205.44. AMZN traded 9.5 million shares yesterday, nearly double its average volume. Shelley Reynolds (VP) sold 1,788 shares at $197.00 on March 26. Michelle Wilson (SVP) sold 2,250 shares at $205 on March 27.
About Kyle Pinder
