These Insiders Are Selling. Do They Know Something?

Stocks are higher Tuesday on GM restructuring and
Greenspan comments.
The Fed chief said the economy would remain
strong and hinted that the Fed would stop raising rates, at lest for the short
term. He also said is puzzled by declining long-term rates in the face of steady
tightening.

GM will cut 25,000 over the next three years, and hopes to save $2.5
billion annually.  The company plans to cut assembly capacity by 5 million
units by year end and will unveil a new line of vehicles, replacing the Yukon,
Tahoe and Escalade.

Year-to-date, Google
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founders Sergey Brin and Larry Page
have each sold about 2 million shares. GOOG is flirting with the $300 level
today, making an intraday high of 299.59.

Sears Holdings
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reported a net loss for Q1, the first
report since acquiring KMart.

Conagra
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sees Q4 lower than previously expected.

Monsanto
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raised its guidance for Q4 from  0.94 to 1.05.

Proctor & Gamble
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said its Q4 and full year projections remain on
track.

Strong sectors are:  Airlines
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+2.66%     Chemicals
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+1.83%  Homebuilders
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+1.33% 

      

Weak sectors are:   Gold
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-0.93%     Oil Services
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-0.21%       
Natural Gas
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-0.13%    

Dow +105.10 10,572.13
Nasdaq +16.33 2092.09
S&P 500 +10.34 1207.85

The dollar is -0.04 at
87.56

Crude Oil is -0.69 at
53.80

Gold is -1.70 at 424.40

ce=”Arial” size=”2″ face=”Arial”>Volume is 1.057 billion on the NYSE and
1.062 billion on the Nasdaq.

Market breadth is positive.

NYSE Issues
Advancing 2312 Up Vol 777
Declining 868 Down Vol 197
2.66 3.94
Nasdaq
Advancing 1903 Up Vol 733
Declining 1015 Down Vol 270
1.87 2.71

Stocks in the News

XM Satellite Radio
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announced a partnership with Audible
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.

Goldman downgraded the steel industry to neutral but still maintains an
outperform on Nucor
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  and US Steel
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. Goldman
also downgraded the gold sector.

The Wall Street Journal reports three firms–King Pharmaceuticals,
Serono Inc and Abbott Labs–may face price fraud charges for
allegedly overcharging public health care programs.

Applied Materials
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unveiled a new chip inspection tool
called UVision, which examines for flaws
in the chip making process.

Bob Evans Farms
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reported Q4 earnings down 71%; the company
also warned for Q1.

Albertson’s
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beat by 0.03.

Brice Wightman