TradingMarkets 7 Stocks You Need to Know for Monday
Stocks finished a light, post-Christmas Friday trading session moderately higher.
The Dow ended the day up 47.07. The Nasdaq gained 5.34. And the S&P 500 finished ahead by 4.65.
Here are 7 Stocks You Need to Know for Monday.
The CEOs of JC Penny
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PowerRating), PetSmart
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PowerRating), and Saks
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PowerRating) were among a number of retailers that have asked President-elect Obama to consider adding a number of “sales tax-exempt” days to the economic stimulus plan he is expected to announce in 2009.
GMAC, the main lender to General Motors
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PowerRating), won regulatory approval to become a bank holding company on Christmas Eve and is likely to get more than $6 billion in new capital through the TARP program. Shares of both General Motors and Ford Motor Company
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F |
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PowerRating) were higher on the news.
Cutbacks in holiday spending on electronics and appliances by consumers this year will likely have a disproportionately negative impact on retailers such as Best Buy
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BBY |
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PowerRating).
Amazon.com
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PowerRating) announced that 2008 was its “best holiday season ever” while other retailers across the board struggled.
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David Penn is Senior Editor at TradingMarkets.com