Ingram Micro Stock Falls Amid Insider Talk

Market rumors over insider stock activity at Ingram Micro Inc. led to a delay in the opening of its trading on the New York Stock Exchange, then a drop in the stock price. Analysts said a group of company employees was expected to sell 200,000 shares when the market opened Friday. Neither Ingram Micro nor Salomon Smith Barney, the investment firm that oversees the Santa Ana company’s insider stock activity, would confirm or deny the rumors. Trading volume Friday was higher than usual--461,300 shares, compared with a daily average of 290,871 over the last three months. The stock fell $2.13 to $43.50 during the day before rallying to close at $44.38, down $1.25 a share. Recently, the company’s stock has been moving up. Bolstered by a strong earnings report earlier this week, Ingram Micro stock hit a 52-week high Thursday, closing at $45.63. Ingram Micro is the world’s largest distributor of computer products.