TradingMarkets 7 Stocks You Need to Know for Wednesday
Selling accelerated late in the trading day on Tuesday, as profit-taking took the Nasdaq and S&P 500 both down more than 2%.
The Dow shed 115.65. The Nasdaq Composite pulled back by 37.44. And the S&P 500 ended the day down 16.59.
Here are 7 Stocks You Need to Know for Wednesday.
Goldman Sachs
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PowerRating) President and COO Gary Cohn refused to speculate just when the company might return capital borrowed from the government last year.
In response to a bill that would put the company under the jurisdiction of the National Labor Relations Board, FedEx
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PowerRating) stated that it would be forced to delay purchase of up to 30 new cargo planes. The threat was interpreted to suggest that the jurisdiction change would make it easier for FedEx employees to unionize and cost the company money.
Solarfun Power Holdings
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PowerRating) is expected to report an earnings per share loss of seven cents when it announces quarterly earnings Wednesday morning before the market opens.
Two of the top researchers at Bank of America
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PowerRating), Chief Investment Strategist Richard Bernstein and chief North American Economist, David Rosenberg will be leaving the company later this year.
Fed Chairman Ben Bernanke, Treasury Secretary Tim Geithner and New York Fed president William Dudley testified before Congress about the continued controversies surrounding the public bailout of American International Group
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PowerRating).
United States Steel Corporation
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PowerRating) was among the bigger winners on a profit-taking day, gaining more than 5% on Tuesday. With regard to Nasdaq stocks, Palm Inc.
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PowerRating) also ahead more than 5% on the day.
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