TradingMarkets 7 Stocks You Need to Know for Tuesday
Stocks were back in the red on Monday, responding to the increasingly overbought market created by Friday’s surge higher.
The Dow ended Monday down 372.75. The Nasdaq Composite finished lower by 94.92. And the S&P 500 closed off 47.99.
Microsoft
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PowerRating) announced that it was both increasing its share buyback program to $40 billion as well as raising its dividend by 18%.
After petitioning the Federal Reserve, both Morgan Stanley
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PowerRating) have been granted status as bank holding companies. The move marks the end of the independent investment bank era on Wall Street.
Indicative of the strength in gold mining stocks on Monday, Barrick Gold Corporation
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PowerRating) ws up more than 9%.
Reporting earnings on Wednesday after the market closes, Nike Corporation
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PowerRating) announced on Monday a plan to buy an additional $5 billion of its own stock.
Also on the share buyback bandwagon on Monday was Hewlett-Packard
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PowerRating), which announced a plan to increase their share buyback program by an additional $8 billion.
Homebuilder Lennar
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PowerRating) reports earnings Tuesday morning before the market opens. Analysts are expecting a loss of 0.52 per share.
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