One of the most famous NFL players of all time is launching his own sportswear brand that will pay college athletes for their name, image and likeness and could take on larger rivals.
When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Toward the end of trading Wednesday, the Dow traded down 0.21% to 35,738.42 while the NASDAQ rose 0.06% to 15,784.86. The S&P also rose, gaining 0.01% to 4,690.76.
Macy's Inc (NYSE: M) is trading lower Wednesday in sympathy with Nordstrom Inc (NYSE: JWN) after the company announced worse-than-expected third-quarter financial results.