TradingMarkets 7 Stocks You Need to Know for Friday
Overbought conditions brought out profit-takers in droves on Thursday. Negative economic news on the jobs and housing front also helped reinforce a selling mood going into Friday’s trading.
The Dow pulled back by 226.44. The Nasdaq Composite slid 50.50. And the S&P 500 ended the day down 28.95.
Here are 7 Stocks You Need to Know for Friday.
Amazon.com
(
AMZN |
Quote |
Chart |
News |
PowerRating) reported quarterly earnings of 52 cents per share Thursday after the market closed, blowing away estimates by 14 cents. Sales and guidance were also better than expected.
Allstate
(
ALL |
Quote |
Chart |
News |
PowerRating) reported its first annual loss ever, announcing also plans to eliminate 1,000 jobs and to reconsider raising its dividend.
Exxon Mobil
(
XOM |
Quote |
Chart |
News |
PowerRating) reports quarterly earnings Friday morning before the market opens. Analysts are expecting earnings per share of 1.48.
Earnings per share of 1.59 is what analysts are expecting from Procter and Gamble
(
PG |
Quote |
Chart |
News |
PowerRating), which also reports quarterly earnings Friday morning before the bell.
Among the hardest hit stocks on Thursday were Wells Fargo
(
WFC |
Quote |
Chart |
News |
PowerRating) and General Electric
(
GE |
Quote |
Chart |
News |
PowerRating). Both stocks pulled back sharply from overbought extremes reached in a single day during the previous session.
One bright spot in the Nasdaq on Thursday was Vertex Pharmaceuticals
(
VRTX |
Quote |
Chart |
News |
PowerRating) which was up as much as 4% late in trading. The stock is increasingly overbought above the 200-day moving average.
Want to take your trading to another level? Click here to find out more about the new book by Larry Connors’ and Cesar Alvarez’, Short Term Trading Strategies That Work: A Quantified Guide to Trading Stocks and ETFs!