TradingMarkets 7 Stocks You Need to Know for Monday
Traders continued to take profits on Friday, leading to lower levels in stocks across the board – though selling in financial shares helped bring the S&P 500 down nearly 2%.
The Dow fell 122.42. The Nasdaq Composite ended the day down 26.21. And the S&P 500 closed lower by 15.50.
Here are 7 Stocks You Need to Know for Monday.
Among the companies reporting quarterly earnings Monday morning before the market opens are high-end retailer Tiffany & Company
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PowerRating), which is expected to report EPS of 80 cents, and Walgreen
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PowerRating), which is expected to announce earnings per share of 0.66.
Optimism toward drug sales encouraged UBS to upgrade Johnson & Johnson
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PowerRating) to “buy” on Friday. UBS has a price target of $63 for the pharmaceutical giant.
Indicative of the profit-taking in financial stocks was the 10% pullback in Bank of America
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PowerRating) on Friday as well as the 7% drop in JP Morgan Chase & Co.
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PowerRating).
The pressure remained on American International Group
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PowerRating) on Friday as attorneys general from 18 states announced intentions to begin investigations into bonuses paid by the increasingly publicly owned insurer.
Cisco Systems
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PowerRating), which was recently added to Goldman Sachs’ “conviction buy list”, on Friday announced its plan to purchase Pure Digital Technologies, makers of popular, inexpensive mini-video camcorders called Flip.