TradingMarkets 7 Stocks You Need to Know for Thursday: ETFC, T, QCOM, AMZN, MSFT, OXY, SLB
Buyers were most aggressive in energy stocks, sending shares of ^HAL^ soaring by nearly 8%, and ^NOV^ up nearly 5%. The selling in financials slowed significantly, although stocks like ^MS^ and ^AXP^ closed lower for a third day in a row.
Among Nasdaq 100 stocks, ^JOYG^ led the pack with a gain of more than 3% after closing lower for four out of the previous five trading days. Also up more than 3% – in this case after a five-day pullback into oversold territory – were shares of ^WYNN^.
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Here are 7 Stocks You Need to Know for Thursday.
Shares of ^ETFC^ rallied into strength on Wednesday, gaining well over 1% after closing lower for six consecutive trading days. After the bell, E Trade announced quarterly earnings that missed analyst expectations.
The three-day rally in ^T^ (below) paused ahead of trading on Thursday – and ahead of the company’s scheduled earnings annoucement Thursday morning before the open.
Shares of T have been trending higher over the past few trading weeks following a major four-day pullback at the beginning of the year that took the stock into deeply oversold territory above the 200-day moving average.
Up three days in a row after pulling back for three days in a row were shares of ^QCOM^ on Wednesday. QCOM reported earnings after the market closed that beat analyst estimates.
^AMZN^ (below) continues to deeper and deeper into oversold territory above the 200-day moving average.
Down six consecutive trading days, Amazon.com is scheduled to report quarterly earnings Thursday after the market closes.
Also reporting earnings after the bell on Thursday, ^MSFT^ advanced by more than 1% in Wednesday’s trading. The stock has closed higher for three days in a row.
Pulling back for a third day in a row and closing in oversold territory above the 200-day on Wednesday were shares of ^OXY^ (below).
Shares of OXY were last in oversold territory during a three-day pullback in the first half of the month.
While sellers were taking OXY lower, buyers were bidding shares of ^SLB^ higher by more than 5% in Wednesday’s trading. The rally in SLB comes as the stock emerges from a pullback that took the stock down for four out of the previous five trading days.
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David Penn is Editor in Chief of TradingMarkets.com