TradingMarkets 7 Stocks You Need to Know for Wednesday: BAC, GOOG, ANF, TIF, EBAY, GPS, YHOO
Stocks were mixed on the final trading day of November. While both the S&P 500 and the Dow Industrials were relatively flat, sellers took the Nasdaq down by more than 1% intraday before rallying to trim losses going into the close.
Among the bigger gainers on the day were retailers (three of which are noted in today’s 7 Stocks You Need to Know. Also higher ahead of Wednesday’s open were shares of ^BHI^ up more than 2%, and ^RIMM^ up well over 4%.
Here are 7 Stocks You Need to Know for Wednesday.
Have rumors that ^BAC^ may figure prominently in the next Wikileaks document dump? The stock lost 3% in Tuesday’s trading, exceeding its October lows below the 200-day moving average.
Shares of ^GOOG^ (below) pulled back by more than 4% in trading on Tuesday.
Tuesday’s lower close marked the stocks’ third consecutive lower close and Google’s lowest price since mid-October.
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Buyers moved back into a number of retail stocks in the first half of the week, while profit-taking characterized trading in others. Up over 3% on Tuesday were shares of ^ANF^, while ^TIF^ gained more than 2%.
Also down for a third day in a row on Tuesday was ^EBAY^ (below)
Shares of eBay pulled back by more than 3% ahead of Wednesday’s open. EBAY is at its most oversold levels in more than two weeks.
Continuing to make progress above the 200-day, shares of ^GPS^ (below) were the best performers in the S&P 500, gaining more than 3% and closing at a new short term high.
GPS spent much of 2010 trading below its 200-day moving average, dropping below that level for the first time back in late May and spending most of November trying to climb back above it.
Trading above its 200-day consistently since mid-October, shares of ^YHOO^ pulled back by more than 3% ahead of trading on Wednesday.
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David Penn is Editor in Chief of TradingMarkets.com