For as long as it has been around, investors have made a big deal about the Dow Jones Industrial Average. Like it or not, that may never change, but the reality is the Dow is home to just 30 stocks. In other words, it's not the most accurate representation of U.S.-listed stocks.

Pall Corp. (NYSE:PLL) increased the Company's authorization to repurchase shares of its common stock by $250 million. As of July 31, 2011, the Company had approximately $200 million remaining from an authorization dated October 16, 2008. Consistent with fiscal year 2011, Pall expects to purchase approximately $150 million worth of Company shares during the course of fiscal year 2012.

Parker Hannifin Corporation (NYSE:PH) has declared a regular quarterly cash dividend of 37 cents per share of common stock to shareholders of record as of August 29, 2011. The dividend is payable September 9, 2011. This is the company's 245th consecutive quarterly dividend and results in a total distribution to shareholders of approximately $57 million.

Green Mountain Coffee (GMCR:NASDAQ) GMCR absolutely killed it with their numbers and this heavily shorted stock could rally even further if we see some positive debt crisis news overnight. Just be careful of Bob Pisani talking about GMCR earnings quality if you are currently long the name.