TradingMarkets 7 Stocks You Need To Know For Monday

Stocks closed higher Friday on good economic data and after a mid-session
pullback in oil.

Traders pondered news from two Dow components.


In its lackluster mid-quarter update yesterday, Intel
(
INTC |
Quote |
Chart |
News |
PowerRating) lowered
the high end of its guidance and sees Q4 revenues between $10.4 -10.6 billion.  The New England Journal of Medicine said a study financed by Merck
(
MRK |
Quote |
Chart |
News |
PowerRating) could have fudged data. A third Vioxx trial just went to the jury.

Roger Levine, Managing Director, Equity
Trading at Pacific Crest, says “Breadth is very encouraging; you’ve got
advancers just about 2:1 on Nasdaq and near that on the NYSE…a great recovery.
We had a five-week rally with a little bit of selloff the past few days and it
seems to be coming back, so maybe the rally’s got new legs.”

Now, here are 7 stocks to watch on Monday:

General Electric
(
GE |
Quote |
Chart |
News |
PowerRating) increased its stock buyback to $5 billion
from $4 billion.

Research in Motion
(
RIMM |
Quote |
Chart |
News |
PowerRating) may be in focus after an analyst on
CNBC said that a settlement with NTP may be far less than some analysts had
speculated on a worst-case basis. The stock closed at its 50-day moving average,
up 5.5%.

Petco
(
PETC |
Quote |
Chart |
News |
PowerRating) made a large run-up into the close on Friday (see
5-minute chart above). The stock is also forming an inverse head-and-shoulders
pattern on the daily chart (not pictured).

Comtech Telecom
(
CMTL |
Quote |
Chart |
News |
PowerRating) could bounce. The stock began the week at
$42.80 and closed out the week at $30.92.

The Semiconductor HOLDRs
(
SMH |
Quote |
Chart |
News |
PowerRating)

Dendrite
(
DRTE |
Quote |
Chart |
News |
PowerRating) gapped down and Friday and made a fairly wide
range bar. There will probably be more action–both up and down–on this stock
on Monday.

Belo
(
BLC |
Quote |
Chart |
News |
PowerRating) announced a 15 million share stock buyback.

Brice Wightman

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