TradingMarkets 7 stocks you need to know for Wednesday

Here are 7 stocks that day traders should watch for Wednesday:

Maxim Integrated (MXIM | Quote | Chart | News | PowerRating) received a subpoena from the U.S. Attorney in California for questionable stock option activity.

The European Union won backing from individual states to fine Microsoft (MSFT | Quote | Chart | News | PowerRating); EU authorities plan to discuss potential penalties for the co next week.

DaimlerChrysler (DCX | Quote | Chart | News | PowerRating) announced May total sales were -15% versus the expected -6.9%.

Ford (F | Quote | Chart | News | PowerRating) reported that total vehicle sales are -7% versus expected -3.1% for the month of June.

Insider trading was reported at Interstate Hotels (IHR | Quote | Chart | News | PowerRating) after a director sold 327K shares .

Toyota (TM | Quote | Chart | News | PowerRating) said that June sales rose to 223,018, boosted by a 39% increase in Corolla sales and a 9.8% increase in Camry sales.

Intel's (INTC | Quote | Chart | News | PowerRating) new CEO Paul Otellini plans to abandon former chief Barrett's flagship project, a $5 Billion venture into mobile-phone chips, in an effort to reduce costs.

Brice Wightman