TradingMarkets 7 Stocks You Need to Know for Wednesday
Stocks ended a rocky session mixed, with the Dow industrials and S&P 500 in the red and the Nasdaq in the green.
The Dow finished lower by 92.65. The Nasdaq Composite closed up 2.84. And the S&P 500 ended Tuesday down 13.39.
Here are 7 Stocks You Need to Know for Wednesday
The SEC announced that it will place restrictions on short selling in both Fannie Mae
(
FNM |
Quote |
Chart |
News |
PowerRating) and Freddie Mac
(
FRE |
Quote |
Chart |
News |
PowerRating) as hedge fund manager William Ackman placed his bets against the struggling mortgage lenders. Fannie Mae was lower by more than 27% on the day. Freddie Mac finished down 26%.
Analysts are expecting EPS of $0.79 when Abbott Labs
(
ABT |
Quote |
Chart |
News |
PowerRating) reports earnings Wednesday before the market opens. Abbott Labs closed Tuesday up nearly 3%.
Intel
(
INTC |
Quote |
Chart |
News |
PowerRating) beat analyst estimates by $0.03 in its earnings report Tuesday after the close. The stock was higher by 3% minutes after the announcement.
General Motors
(
GM |
Quote |
Chart |
News |
PowerRating) will suspend its dividend as part of an effort to raise $15 billion by the end of 2009. General Motors finished Tuesday up nearly 5%.
A Wachovia downgrade to “market perform” helped drive shares of American International Group
(
AIG |
Quote |
Chart |
News |
PowerRating) to their lowest levels in more than a decade. Shares of AIG were lower by more than 8%.
eBay
(
EBAY |
Quote |
Chart |
News |
PowerRating) reports earnings Wednesday after the close. Analysts are expecting earnings per share of 0.41. The stock was down 2% on Tuesday.
Do you think eBay will be up or down on Thursday? Play the TradingMarkets Up or Down Stock Contest for your chance to win $1,000 a month by correctly guessing the direction of a stock!