TradingMarkets 7 Stocks You Need to Know for Thursday: IBM, GS, USB, MS, DLTR, GOOG, X
Selling in banking and financial stocks accelerated at midweek, bringing a second consecutive lower close to a number of stocks trading above their 200-day moving averages. These stocks include ^BAC^ and ^GS^, the latter noted in yesterday’s 7 Stocks You Need to Know.
Morgan Stanley (more below) is among the companies reporting quarterly earnings before the market opens on Thursday, while Google (also more below) is the biggest name reporting on Thursday after the close. Reporting after the market closed on Wednesday, ^EBAY^ ended the day off by more than 1%.
Here are 7 Stocks You Need to Know for Thursday.
Shares of ^IBM^ rallied by more than 3% ahead of trading on Thursday. The new, short term high puts the stock in overbought territory above the 200-day for a second consecutive session.
Both ^GS^ and ^USB^ (below) pulled back on Wednesday following earnings announcements that morning before the open.
Shares of USB closed lower for a second day, pulling back by nearly 3% on Wednesday alone.
Pulling back by more than 3% ahead of its scheduled earnings announcement on Thursday were shares of ^MS^ (below).
Morgan Stanley has been trading back above its 200-day moving average since late December.
Up 3% on Wednesday after a five-day pullback above the 200-day were shares of ^DLTR^.
Also reporting earnings on Thursday, ^GOOG^ (below).
Shares of Google reversed lower by more than 1% on Wednesday ahead of the company’s scheduled earnings announcement Thursday after the market close. Google had closed in overbought territory above the 200-day for the past two days in a row before Wednesday’s pullback.
Down for four out of the past five trading days, ^X^ pulled back by nearly 6% in trading on Wednesday. X has been trading above its 200-day consistently since the beginning of December.
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David Penn is Editor in Chief of TradingMarkets.com