TradingMarkets 7 Stocks You Need to Know for Monday
After a one-day bounce, selling returned to the markets on the final trading day of the week.
The Dow lost 62.68. The Nasdaq Composite ended the day down 9.07. And the S&P 500 closed lower by 10.19.
Here are 7 Stocks You Need to Know for Monday.
Scheduled to report quarterly earnings Monday before the market opens is Lowe’s Companies
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PowerRating). Analysts are expecting EPS of 25 cents. The stock was down more than 2% intraday on Friday.
General Motors
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PowerRating) announced that it will be terminating more than 1,000 dealerships by late 2010. The announcement comes after Chrysler had said it would be eliminating more than 800 dealerships a day before. Shares of GM were down more than 5% late in trading on Friday.
On the other hand, Ford Motor Company
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PowerRating) continued to bound higher after reaching oversold lows above its 200-day moving average earlier in the week. The stock was up more than 5% intraday on Friday.
With news that many insurers will be accepting TARP assistance, insurance companies like Prudential Financial
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PowerRating) are among those that will not, according to a Wall Street Journal report. Prudential pulled back toward its 200-day moving average on Friday after a one-day bounce, losing more than 4%.
JC Penny
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PowerRating) failed to sustain an intraday rally for a second day in a row. The company reported worse than expected earnings and revenue forecasts for the second quarter.
Among the better performing Nasdaq stocks was game maker Electronic Arts
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PowerRating), which gained more than 5% intraday. The surge puts ERTS in overbought territory below the 200-day moving average.
According to the Wall Street Journal, the government is urging Bank of America
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PowerRating) to rebuild its board of directors, adding more board members with actual banking experience. Shares of Bank of America were down more than 5% intraday on Friday, closing lower for six out of the past seven trading days.
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