5 Stocks You Need To Know About For Monday
The major U.S. equity indices ended
Friday’s trading nearly unchanged, as early gains were offset by a verdict
against Merck in the first Vioxx-related case to go to trial and a sharp rebound
in oil prices.
Following some moderation earlier in the week, oil prices
rebounded sharply during Friday’s session on news of a failed attack on U.S.
ships and worries about exports from Ecuador. Light, sweet crude climbed more
than $2 on the session to close above $65 per barrel.
Merck
(
MRK |
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PowerRating) broke sharply lower in the
mid-afternoon as news came out that a Texas jury had found the company liable in
the death of a Vioxx user. The stock finished lower by 7.7%, moving to its
lowest level since early February.
A strike appears to be looming at Northwest Airlines
(
NWAC |
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PowerRating),
with the airline apparently at an impasse with regards to contract negotiations
with its mechanics union. A strike could begin as early as Saturday, when a
government-ordered 30-day cooling-off period expires.
Whole Foods Market
(
WFMI |
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PowerRating), the operator of natural
and organic foods supermarkets, announced that it plans to open a
75,000-square-foot flagship store in Central London, in early 2007, to provide
Londoners a fresh and innovative choice in shopping.
Manufacturer of processed food HJ Heinz
(
HNZ |
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PowerRating) is
expected to report its first quarter results of fiscal 2006 before the market
opens on Monday.
American International Group
(
AIG |
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PowerRating) is testing a
support level formed by two moving averages, the 20-day and 50-day sma, with the
200-day sma not far below that level. A bounce from these levels wouldn’t be too
surprising.
Ashton Dorkins