TradingMarkets 7 Stocks You Need to Know for Friday
Stocks followed through to the upside on Thursday restoring overbought conditions in a wide variety of stocks. Technology and consumer discretionary stocks helped provide leadership on the day, including some stocks breaking out above their 200-day moving averages for the first time in more than a year.
The Dow added 174.75. The Nasdaq Composite closed higher by 58.05. And the S&P 500 ended the day up 18.98.
Here are 7 Stocks You Need to Know for Friday.
Reporting quarterly earnings Friday morning before the market opens, KB Homes
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PowerRating) is expected to announce an EPS loss of 86 cents.
General Motors
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PowerRating) announced that 7,500 employees took advantage of the struggling automaker’s buyout offers. The buyout offers were part of the required cost-cutting measured called for in its loan agreement with the U.S. government.
New York attorney general Andrew Cuomo will subpoena American International Group
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PowerRating) as part of an investigation into the insurer’s credit default swaps.
Best Buy
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PowerRating) soared by more than 12% on Thursday, as investors and traders cheered the company’s earnings announcement, which reflected losses that were not as bad as feared.
Among the technology stocks helping lead the markets higher on Thursday were Nvidia Corporation
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PowerRating) and Research in Motion
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PowerRating). Nvidia closed above its 200-day moving average for the first time since January 2008. Both stocks were up more than 5% on the day.
An even more remarkable milestone was the 10%+ rally in Starbucks
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PowerRating) which helped the stock close above its 200-day moving average for the first time since January 2007.
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