TradingMarkets 7 Stocks You Need to Know for Friday
Stocks failed to hold their highest levels of the day as the S&P 500 and Dow 30 remained in tight trading ranges just above their 200-day moving averages.
The Dow gained 31.90. The Nasdaq Composite added 9.29. And the S&P 500 finished up 5.74.
Here are 7 Stocks You Need to Know for Friday.
Congressional leaders heard testimony on Thursday that merger between Bank of America
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PowerRating) and Merrill Lynch was a shotgun wedding induced by both the Fed chairman Ben Bernanke and former Treasury Secretary Henry Paulson. Shares of Bank of America were up more than 8% on the day.
Boeing
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PowerRating) lowered its long-term forecast for the airplane market. Both uncertainty surrounding fuel prices and the global economic slowdown were cited as major causes. Down 3%, the stock is increasingly oversold above its 200-day moving average.
New regulatory authority for the FDA to control tobacco products was granted by the Senate on Thursday. Meanwhile, shares of British American Tobacco
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PowerRating) were up more than 2% after pulling back earlier in the week.
With retailers reporting higher sales boosted by gains in gasoline sales, online retailer Amazon
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PowerRating) – which sells no gas – continues make inroads by way of third party sales. In other retail news, the Soros Fund is reportedly unloading shares of Best Buy
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PowerRating) and adding both Wal-Mart
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PowerRating) and Macy’s
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PowerRating). Shares of Macy’s were up more than 4% on the day, while Best Buy pulled back more than 3%. Interestingly, Wal-Mart is the only stock among this four that is trading below its 200-day moving average.
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