Ticker Shock: Four Reasons to Take Progressive for a Test Drive

Glenn Curtis  Jun 12, 2009 9:55 am

Ticker Shock: Four Reasons to Take Progressive for a Test Drive
 
Friday's top stories and stocks with potential to move.
 

Bristol Myers Squibb (BMY)/ McDonald's (MCD):
 If you like to keep an eye out on what insiders are doing, you may be interested in the following:

Bristol Myers: While investors seem to have their eyes and ears on other drug companies or on the macro outlook (or let’s face it, summer), there was some insider buying at the New York-based drug company during the late-April time frame that deserves mention.  Might this be a sign of good things to come? 

Just as an aside, give the dividend situation a gander.

McDonald's: Traditional-service food chains could be where the action is down the road with the economy popping back, but I may be proven wrong. Data shows an insider bellied up in a fairly big way in mid-May.

Perhaps those burgers could sizzle a bit longer? And maybe that coffee idea it brewed up will end up being a good one. 

Advanced Micro Devices (AMD):
 I’ve had some folks ask me about my current take on the chipmaker, given its nice bounce off the lows:

1. All things considered, I’d much rather be knee-deep in Intel (INTC) right now, which may make me sound like a broken record.

2. The earnings picture still fails to inspire me, for lack of a better word. (Maybe I’ll get out my thesaurus.)

3. Insiders -- how about bellying up to the bar? I’m not sure I’d buy on news of a purchase alone, but it would make me feel better.

4. Management needs to find a way to get this baby north of $5 and hold the line.

5. Even if things were a lot better right now, I think it would take multiple quarters to get investors to snuggle up to the Advanced story.

6. Why should I open this door now?

Have a great day and a great weekend. And here's hoping this digital TV thing will force my dad to finally ditch those bunny ears he used to make me fiddle with!
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