7 Stocks You Need To Know About For Thursday
Stocks rose Wednesday after good reports from
two technology companies, as well as lower oil prices.
Applied Materials
(AMAT)
beat by 0.09, but net income fell 16% in Q3. The company said orders this
quarter will rise 5-10% sequentially.
Q3 earnings at Hewlett Packard (HPQ)
fell sharply, but profits topped estimates by 0.05. The company guided
higher and the stock was also upgraded at Bank of America, Bear Stearns
and First Albany.
Crude Oil fell over 4%
today following the release of the EIA Petroleum Status report. The report
showed inventories rose +0.3 Mln barrels to 321.1 Mln barrels for the week
ending August 12. The rise came despite a number of refinery shutdowns,
indicating that demand is not outstripping supply. Gasoline supplies
declined -5.0 Mln barrels during the same period but the unleaded gas
prices fell even more sharply than crude oil. US crude oil imports
averaged 10.3 Mln barrels per day.
Now, here are a few stocks to watch for
Thursday:
Momenta Pharma [MNTA:MNTA]
may rally from a pullback hgere.
Four Seasons
(
FS |
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Chart |
News |
PowerRating)
had a huge volume bar on Tuesday and attempted a small rally on Wednesday. The
stock is oversold and may bounce.
Photronics
(
PLAB |
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PowerRating)
gapped way down, to near the gap level. This may provide some support…maybe.
Meritage Homes
(
MTH |
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News |
PowerRating)
could see some support near these levels
Abercrombie & Fitch
(
ANF |
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News |
PowerRating) gapped down on Wednesday but closed well. There were
buyers out there and they may return on Thursday.
This is why I like IPOs. They don’t all do this,
obviously, but when they go, they can make quite a move.
Lastly, I mentioned JetBlue [NASDAQ|:JBLU]
last week, saying that it oil [rices fell, the airlines would do well. If there
is any follow-through on lower oil on Thursday, this stock–as well as the other
airlines–are worth looking at.
Brice Wightman
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