TradingMarkets 7 Stocks You Need to Know for Tuesday: T, SCHW, OXPS, WAG, DFS, S, VZ
U.S. stocks followed through to the upside in a big way on Monday. Buyers continued to favor energy stocks over other markets like financials and technology, with companies like ^MRO^ and ^APA^ closing higher by more than 4%.
Moving lower and toward oversold territory ahead of trading on Tuesday were stocks like ^SHLD^ and ^ROST^, both off five out of the past six trading days.
Here are 7 Stocks You Need to Know for Tuesday.
^T^ has announced its decision to acquire T-Mobile USA. Shares of AT&T opened up nearly 3% before reversing over the course of the trading day to finish up more than 1%.
Also in merger and acquisition news on the first trading day of the week is ^SCHW^. Schwab announced that it was buying options broker ^OXPS^.
Shares of SCHW finished slightly higher after the news. OXPS added more than 16% to close back above its 200-day moving average.
Among the companies scheduled to report quarterly earnings before the market opens Tuesday morning is ^WAG^ (below).
Shares of Walgreen gained more than 2% ahead of the company’s announcement. The stock had closed lower for six out of the past seven trading days before Monday’s big bounce higher.
Up three days in a row and into overbought territory above the 200-day moving average are shares of ^DFS^ (below).
DFS, which reports quarterly earnings after the bell on Tuesday, gained nearly 3% in Monday’s session.
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The news for AT&T and T-Mobile sent shares of ^S^ tumbling by well over 13% to close below its 200-day moving average.
Up for a third day in a row, but closing well off session highs was ^VZ^ (below) ahead of trading on Tuesday.
Verizon’s three-day rally comes after a sharp pullback that took the stock into oversold territory above the 200-day moving average as part of a correction that lasted for five consecutive trading days.
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David Penn is Editor in Chief of TradingMarkets.com