McKesson, News Corporation And 2 Other Stocks Executives Are Selling

The Nasdaq 100 closed lower by over 500 points during Friday's session. Investors, meanwhile, focused on some notable insider trades.

When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.

Below is a look at a few recent notable insider sales. For more, check out Benzinga’s insider transactions platform.

Microsoft

• The Trade: Microsoft Corporation MSFT EVP, CFO Amy Hood sold a total of 40,450 shares at an average price of $410.55. The insider received around $15.6 million from selling those shares.
• What's Happening: Microsoft Corp recently launched a new line of Windows PCs with AI capabilities.
• What Microsoft Does: Microsoft develops and licenses consumer and enterprise software.
• Benzinga Pro's real-time newsfeed alerted to latest MSFT news.

McKesson

• The Trade: McKesson Corporation MCK CEO Brian S. Tyler sold a total of 3,753 shares at an average price of $561.10. The insider received around $2.11 million from selling those shares.
• What's Happening: McKesson, last week, signed an agreement to sell its Canada-based Rexall and Well.ca businesses to Birch Hill Equity Partners.
• What McKesson Does: McKesson Corp is one of three leading pharmaceutical wholesalers in the us engaged in sourcing and distributing branded, generic, and specialty pharmaceutical products to pharmacies (retail chains, independent, and mail order), hospitals networks, and healthcare providers.
• Benzinga Pro’s charting tool helped identify the trend in MCK stock.

News Corporation

• The Trade: News Corporation NWSA Chief Technology Officer David R Kline sold a total of 10,000 shares at an average price of $26.96. The insider received around $269,626 from selling those shares.
• What's Happening: On Aug. 8, News Corporation reported better-than-expected fourth-quarter financial results.
• What News Corporation Does: News Corporation is a diversified media conglomerate with significant presence in the us, the UK, and Australia.
• Benzinga Pro’s signals feature notified of a potential breakout in NWSA shares.

Fluor

• The Trade: Fluor Corporation FLR EVP, CFO Joseph L Brennan sold a total of 31,260 shares at an average price of $46.65. The insider received around $1.46 million from selling those shares.
• What's Happening: On Aug. 2, Fluor reported second-quarter fiscal 2024 revenue growth of 7.3% year over year to $4.227 billion, missing the consensus of $4.360 billion.
• What Fluor Does: Fluor is one of the largest global providers of engineering, procurement, construction, fabrication, operations, and maintenance services.
• Benzinga Pro's earnings calendar was used to track upcoming FLR’s earnings reports.

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