TradingMarkets 7 Stocks You Need to Know for Thursday
Stocks sold off on Wednesday, as traders took profits in the wake of Tuesday’s strong surge in the markets. As such, overbought conditions from Tuesday’s rally have largely subsided and opportunities for buying stocks on pullback have increased.
The Dow lost 173.47. The Nasdaq Composite ended the day down 19.35. And the S&P 500 fell 17.27.
Here are 7 Stocks You Need to Know for Thursday.
The inability to resolve concerns by bondholders has turned traders and investors negative on General Motors
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PowerRating) and makes bankruptcy almost inevitable. Shares of the stock were down more than 11% intraday on Wednesday.
Among the companies reporting quarterly earnings Thursday before the market opens are Big Lots
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PowerRating). Analysts are expecting per share earnings of 40 cents from Big Lots, and EPS of 54 cents from Heinz.
BIG pulled back above its 200-day moving average on Wednesday in advance of its earnings report. By contrast, shares of H.J. Heinz are increasingly overbought below their 200-day moving average.
Thursday’s biggest earnings news may be made by Dell
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PowerRating), which reports quarterly earnings after the bell. Per share earnings of 23 cents is what analysts are expecting from the PC maker. Dell shares are also becoming more and more overbought below the 200-day moving average.
Bank of America
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Yahoo
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PowerRating) would be possible with the right technology, information sharing and ‘boatloads of money’. Shares of Yahoo were pulling back above their 200-day moving average on Wednesday while Microsoft continued to trade largely sideways in neutral territory below its 200-day.
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