Stocks Move Lower Ahead of Fed Meeting
The markets are selling off this morning ahead of tomorrow’s
Fed meeting as investors take profits after the recent rally.
Our
PowerRatings Heat Map is showing continuing widespread weakness across many
sectors. These include Banking, Diversified Services, Energy, Metals/Mining, Internet,
Transportation, and Computer Hardware.
Motorola
(
MOT |
Quote |
Chart |
News |
PowerRating) shares are moving lower this morning
after shareholders voted to deny a seat on the executive board to billionaire
Carl Icahn. Icahn wanted to raise the company’s debt level and return more
cash to shareholders. Back in mid-April Motorala reported its first
quarterly loss since 2004.
AK Steel Corp.
(
AKS |
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Chart |
News |
PowerRating) shares jumped this morning on
a report that the company is a buyout target by the world’s largest steelmaker
ArcelorMittal
(
MT |
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Chart |
News |
PowerRating).
Rail company CSX Corp.
(
CSX |
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Chart |
News |
PowerRating) has announced a 25%
hike in dividends and plans to repurchase an additional $1 billion worth of
shares.
For more stocks
to watch, see
TradingMarkets 7 Trading Ideas for Today.
Today we will focus on the weakness in the
Transportation sector:
Today’s featured
list comes from our
Biggest
PowerRatings Down Changes List. These stocks have had the biggest
one-day move to the downside in their PowerRatings. These stocks should likely
be avoided and are possible short candidates.
For a free PowerRatings trial,
click here. If
you have any questions about PowerRatings or the new Stock Indicators please
feel free to email us or call 213-955-5858 ext 1.
Darren Wong
Associate Editor
darrenw@tradingmarkets.com
Reminder: We are in no
way recommending the purchase or short sale of these stocks. This article is
intended for education purposes only. Trading should be based on your own
understanding of market conditions, price patterns and risk; our information is
designed to contribute to your understanding.