TradingMarkets 7 Stocks You Need to Know for Wednesday
Stocks raced out of the gate first thing Tuesday morning and never looked back as buyers bid shares of financial, technology and consumer discretionary stocks higher over the course of the trading day.
The Dow added 379.44. The Nasdaq Composite gained 89.64. And the S&P 500 ended the day up 43.07.
Here are 7 Stocks You Need to Know for Wednesday.
Citigroup
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PowerRating) soared by more than 38% on Tuesday after CEO Pandit announced that the company was having its best quarter since 2007 – when Citigroup last posted a profit.
Also dramatically higher on the day were General Electric
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PowerRating), up more than 19% late in trading, and Office Depot
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PowerRating) which reported better than expected same store sales Tuesday morning. ODP, which had closed lower for six consecutive sessions, gained more than 42%.
Reporting quarterly earnings Tuesday morning before the market opens, Staples
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PowerRating) is expected to announce EPS of 0.42.
United Technologies
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PowerRating) announced that it would eliminate more than 11,000 jobs and was lowering both its profit and revenue forecasts. The stock, which trades below its 200-day moving average, gained more than 8% on Tuesday.
Swiss drug maker Roche continued on Tuesday to balk at the $112 price tag Genentech
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PowerRating) has placed on its shares, saying the number is not “realistic.”
Also on the merger and acquisition front, Dow Chemical
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PowerRating) said that expenses related to its acquisition of Rohm & Haas would mean significant asset sales and job cuts.
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