TradingMarkets 7 Stocks You Need to Know for Wednesday

Stocks started the day off moving higher and never stopped, continuing to rally after the FOMC announced that it would keep the Fed funds rate unchanged at 2.0%

The Dow gained 331.62. The Nasdaq Composite closed up 64.27. And the S&P 500 finished ahead by 35.87.

Here are 7 Stocks You Need to Know for Wednesday.

Qwest (Q | Quote | Chart | News | PowerRating) and Sprint Nextel (S | Quote | Chart | News | PowerRating) are among the top telecommunications companies reporting earnings Wednesday morning before the open. Analysts are expecting EPS of $0.10 and $0.03, respectively.

American International Group (AIG | Quote | Chart | News | PowerRating) was the Dow industrials' big gainer on Tuesday. The stock was upgraded to "buy" by UBS AG.

Procter & Gamble (PG | Quote | Chart | News | PowerRating) beat earnings estimates by two cents Tuesday morning before the bell, crediting increased pricing power in shampoo and soap products.

Molson Coors Brewers (TAP | Quote | Chart | News | PowerRating) was among the day's biggest earnings losers, missing estimates by more than twenty cents.

Freddie Mac (FRE | Quote | Chart | News | PowerRating) reports earnings Wednesday morning before the bell. Analysts are expecting a loss of 53 cents a share.

Cablevision (CVC | Quote | Chart | News | PowerRating) announced plans to consider a quarterly dividend or share buyback as well as possibly spin off assets such as Madison Square Garden in an effort to increase shareholder value.

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