7 Stocks You Need To Know About For Tuesday
Stocks flattened out in afternoon trading.
After being buoyed early in the session on merger news, higher crude oil
prices sent stocks back to near-unchanged
territory. China’s CNPC
International will acquire PetroKazakhstan [
(
PKZ |
Quote |
Chart |
News |
PowerRating) for $55/share
and OSI Pharmaceuticals
(
OSIP |
Quote |
Chart |
News |
PowerRating) will acquire Eyetech
(
EYET |
Quote |
Chart |
News |
PowerRating) for $935
million or $20/share.
Merck
(
MRK |
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Chart |
News |
PowerRating)
was in focus after a jury on Friday found the company liable for the death of a
man who used the recalled painkiller Vioxx. MRK traded down .6%.
Copper had its biggest rise in more than a week following data
released by the International Copper Group which showed demand rising in China,
India and Russia. Between January and May
2005 demand rose by 8.8% in China, 12% in
India and 17% in Russia, while output fell by 165,000 tons.
Crude oil was little changed despite the suspension of exports
from Southern Iraq due to a power failure. All Iraq exports from the Persian
Gulf have been halted indefinitely. Iraq exports 1.61 Mln barrels per day and
stands to lose approximately $100 Mln for each day that exports are cancelled.
Now, here are a few stocks to look at for Tuesday:
The Semiconductor HOLDRs
(
SMH |
Quote |
Chart |
News |
PowerRating) tried to rally from a pullback. Note
the declining volume on the pullback and the increased volume on Monday.
For more aggressive traders, Intel
(
INTC |
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Chart |
News |
PowerRating)
may be the way to go. The SMHs are the more conservative route, though.
OSI Pharmaceuticals
(
OSIP |
Quote |
Chart |
News |
PowerRating) is buying Eyetech, and the stock really tanked. You may see some
bargain hunting near these levels.
Red Robin
(
RRGB |
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Chart |
News |
PowerRating)
looks as if it may take out the high of the gap-down bar. If it did, it would be
bullish.
Phelps Dodge
(
PD |
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Chart |
News |
PowerRating)
may rally from a pullback. The stock has been a good performer for some time.
Petro Brasileiro
(
PBR |
Quote |
Chart |
News |
PowerRating) looks like it may challenge its recent highs.
And finally, Hansen Natural
(
HANS |
Quote |
Chart |
News |
PowerRating)
popped on increased volume on Monday and may continue. The stock recently split
2:1, which sometimes attracts attention.
Brice Wightman
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