TradingMarkets 7 Stocks You Need to Know for Wednesday
Stocks continued to move lower on Tuesday following Friday’s bump higher. The Dow, Nasdaq and S&P 500 have closed down for four out of the past five trading days.
The Dow lost 176.58. The Nasdaq Composite closed lower by 35.84. And the S&P 500 ended the day down 20.26.
Here are 7 Stocks You Need to Know for Wednesday
American Express
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PowerRating) successfully petitioned the Federal Reserve to become a bank, following the lead of investment banks Goldman Sachs and Morgan Stanley.
Macy’s
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PowerRating) is expected to announce a quarterly EPS loss of 0.19 Wednesday morning before the markets open.
Citigroup
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PowerRating) announced that it would suspend foreclosures and modify mortgages to make it easier for many homeowners to keep their homes.
Applied Materials
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PowerRating) will report quarterly earnings Wednesday after the market closes. Analysts are expecting EPS of 0.14.
Additional quarterly losses for American International Group
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PowerRating) mean that insurance giant’s taxpayer bailout will nearly double to $150 billion.
The cash crunch at General Motors
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PowerRating) has increasingly drawn the attention of lawmakers as the automaker slides closer to bankruptcy.
Fears of weaker PC demand led to selling in shares of Intel
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PowerRating) on Tuesday. The lowered earnings and share price projections come at a time of traditionally strong seasonality for technology stocks.
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