TradingMarkets 7 Stocks You Need to Know for Wednesday
In spite of yesterday’s intraday reversal and rally, sellers were back in force on Tuesday sending stocks deeper into bear market territory.
The Dow closed down 508.39. The Nasdaq Composite fell 108.08. And the S&P 500 ended the day off 60.66.
Here are 7 Stocks You Need to Know for Wednesday.
Monsanto
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PowerRating) reports earnings Wednesday before the market opens. Analysts are expecting a loss of 13 cents per share.
A downgrade to “underperform” by Merrill Lynch led traders and investors to sell shares of Walt Disney
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PowerRating), which fell by nearly 6% on Tuesday.
Among the few stocks to do well this week, Safeway
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PowerRating) rallied by more than 5% late in trading on Tuesday. The stock remains below its 200-day moving average.
The biggest decliner in the Dow industrials, Bank of America
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PowerRating) lost more than 26% on Tuesday.
Advanced Micro Devices
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PowerRating) was up nearly 10% late in trading on Tuesday. AMD plans to spin off divisions as part of an investment of as much as $8.4 billion from the government of Abu Dhabi.
A Barclay’s PLC downgrade led to selling in shares of International Business Machines
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PowerRating), which were down by nearly 5% on Tuesday.
Activist hedge fund manger William Ackman said that Wachovia
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PowerRating) would likely be worth more to potential bidders if the lender were split into two parts.
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