|New Threads Only:|
|New Threads & Replies:|
Forum List » Guru News and Commentaries|
Guru News, Stock picks and commentaries
Morning Coffee: Steven Cohen Buys 5% of NQ, Large Insider Sells at LinkedIn
Posted by: Chris Mydlo (IP Logged)
Date: March 20, 2014 11:28AM
The S&P 500 closed up 13 points yesterday to finish at 1,872. The all-time closing high was 1,878 on March 7. Starting this morning the futures are slightly up, but many market participants will likely be waiting for the announcement of today’s FOMC at 1 p.m. central. Janet Yellen will have her first press conference as chair of the Fed.
Today’s big announcement was FedEx (FDX), the world’s No. 2 package deliver company. For the third quarter the company earned $1.23 per share and revenue of $11.3 billion. The expectations were $1.45 per share earnings and $11.44 billion of revenue. The reason for the miss was due to winter storms.
Recent Guru Trade:
On March 14, Steven Cohen (Trades, Portfolio) disclosed that he increased his position in NQ Mobile from just 15,465 shares at the end of 2013 to now 7,012,665 shares. He now owns 5.1% of the company. The company is a provider of mobile internet services with its headquarters in China. On Oct. 24, the stock dropped from a high of $23.20 to a low of $8.46 after a report was released questioning the NQ’s accounting. The stock has since rebounded to over $20 today.
Recent Insider Buys of More than $100,000:
Recent Insider Sells of More than $5 Million:
Stocks Discussed: FDX, NQ, CVO, AMRC, OPK, SIX, LNKD,