CAT Gains on Earnings; Apple Up, Microsoft Down as iPad Bests Office: 7 Stocks You Need to Know for Monday
U.S. stocks finished the week on an upnote and in overbought territory. Both the blue chips of the S&P 500 and the small caps of the Russell 2000 finished the week in or near overbought levels as of the final trading day of the week.
Among the big gainers on Friday were ^GT^, up nearly 12% and ^OXY^, which gained well over 8% to close higher for a fourth day in a row. Buyers were especially aggressive in the energy sector – trading that could extend into the first trading week of May.
Here are 7 Stocks You Need to Know for Monday.
Shares of Microsoft ^MSFT^ pulled back on Friday, losing more than 2% after pulling back as deeply as 4% intraday. The stock is back below its 200-day moving average after a four-day rally.
Good news for ^AAPL^ and its iPads continues to be troubling news for Microsoft and computer maker ^DELL^. Shares of DELL pulled back by more than 2% on Friday to close below their 5-day moving average for the first time in more than a week.
Down three trading days in a row and oversold above the 200-day moving average are shares of ^SWK^ (below).
The pullback in SWK takes the stock to its lowest level in more than a month.
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Plunging by nearly 14% on the final trading day of the week was ^RIMM^. The pullback was sharp enough to drop the stock below its 200-day moving average.
Up more than 1% after closing lower for four out of the past five trading days were shares of ^WYNN^ (below).
The rally in WYNN takes the stock to within a few points of its highest levels of the year reached a week and a half ago.
^CAT^ (below) reported quarterly earnings on Friday that blew away analyst expectations for both profts and revenue.
Shares of Caterpillar closed higher by more than 2% on Friday, gaining for a fourth day in a row.
7 Stocks You Need to Know Trading Tip of the Day
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David Penn is Editor in Chief of TradingMarkets.com