TradingMarkets 7 Stocks You Need to Know for Monday: FO, JCP, WFMI, NDN, KFT, COST, PCLN
Traders were especially active in the consumer discretionary sector at the end of the week, sending shares of higher-end retailers like ^DDS^, ^M^ and ^JWN^ higher on Friday.
In terms of pullbacks, telecommunications stocks continue to move lower toward oversold levels above the 200-day moving average. This includes ^S^ and ^VZ^, both off three days in a row.
Here are 7 Stocks You Need to Know for Monday.
News that hedge fund manager Bill Ackman had a stake in ^FO^ of 7% sent the stock soaring to new, year-to-date highs on Friday. Ackman was also active in ^JCP^, which gained more than 2% on word of the investor’s 17% stake in the retailer.
After closing lower for four out of the past five trading days, shares of ^NDN^ (below) plunged by more than 12%.
NDN closed at its lowest level since mid-summer. The stock was only recently trading at new, year-to-date highs.
Shares of ^WFMI^ continued to move lower on Friday, closing lower for a third straight session and closing below the 200-day moving average for a second day. WFMI is currently more oversold than at any point in 2010.
^KFT^ (below) pulled back by more than 1% intraday on Friday before rallying somewhat into the close. The stock is now down for two days in a row ahead of Monday’s open.
Pulling back from recent year-to-date highs were shares of Costco Wholesale ^COST^ (below).
COST has closed lower for two days in a row, moving to the lower half of a trading range that has defined the stock’s movement for the past week and a half.
Shares of ^PCLN^ climbed by more than 2% as the stock continued to rally from recent, short term oversold lows.
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David Penn is Editor in Chief at TradingMarkets.com.