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business newsTicker Shock: Five Companies You're Ignoring at Your Own Risk
Wednesday's top stories and stocks with potential to move.
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By the way, what happened to spring?
Asian stocks ended lower. The Hang Seng was off more than 2% and the Nikkei was down, but just a fraction. Meanwhile Europe was in negative territory earlier this morning. And here in the US, we're currently trading higher.
Here's what I am focused on this morning:
Insider Plays?
I’ve been hunting around for companies where the insiders have been buying, for obvious reasons. I came across a few that I thought you might find interesting. 1. Rick’s Cabaret (RICK)
Professor Rohrlich wrote about one of them last week, in Rick's Cabaret Builds Empire Entirely on One-Dollar Bills. It’s known for its gentleman's clubs (or so I’m told). There’s been a little buying over the last several months, according to the data on Yahoo Finance. Nothing big, but more than a couple of crinkled one-dollar bills.
2. Caterpillar (CAT)
The data also reveals that one executive had been digging pretty deep (get it?) and dropping some dough on Caterpillar earlier in the year. That’s nice to see, with the stock in the doldrums.
3. Wynn Resorts (WYNN):
Also, while some may not be willing to wager on a gaming company just yet, the data shows that at least one insider had been ponying up for shares of Wynn. The data shows an indirect purchase earlier in the month.
4 & 5. Darden (DRI)/ Brinker (EAT):
When it comes to investing in the restaurant space, many have been looking to the fast-food chains - especially McDonald's (MCD) -- and with good reason. Ronald and his buddies have been doing a bang-up job of getting people to walk through the doors with its cheap fare.
But perhaps folks should look a little more at some of the full-service chains out there - companies like Brinker (aka Chili’s) and Darden (aka Red Lobster, Olive Garden, LongHorn).
It was interesting to note that one insider at Brinker nibbled at the stock, buying 2,500 shares earlier in the month. Of course, that’s nothing to write home about, but he wouldn't have put up that kinda flash unless he thought there was a high likelihood of putting some jingle in his jeans at some point.
I should also note that both Darden and Brinker have bounced nicely off their lows
I’m one of those people that's been talking about how attractive Mickey D’s is. I stand by that. But I’m starting to believe that in the coming year or two, this is where a lot of the action in the food space could be.
Keep an eye peeled.
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