TradingMarkets 7 Stocks You Need To Know For Wednesday
Stocks fell Tuesday, despite a
late-day rally. October has been a
frustrating month for traders, and today started with a disappointing consumer
confidence number. Consumer confidence fell to a two-year low in October,
to 85.0 vs the 88.0 consensus. Hurricanes and high gas prices were to blame.
Existing home sales were unchanged at 7.28 million. Natural gas rose more
than 8% and crude rose over 3% to $62.44. British Petroleum
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BP |
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PowerRating)
reported profits up 34% last quarter.
Texas Instruments
(
TXN |
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PowerRating) beat by 0.02–with net income up 12% from a year ago–but gave a
weaker outlook for Q4.
International Paper
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IP |
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PowerRating) beat by 0.08, ex-items. Sales were lighter than expected.
DuPont
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DD |
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PowerRating)
reported its first quarterly loss in two years, citing hurricane related costs.
The company reported a loss of (0.09) vs. the average 0.37 estimate.
DuPont also announced a $5 billion stock buyback. (
IBM authorized a $4 billion stock buyback.
Now, here are a few stocks to watch on Wednesday:
Amazon
(
AMZN |
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PowerRating) beat by 0.02 at 0.12,
ex-items, and issued less than upbeat guidance. Q3 earnings fell 44%. The stock
traded lower after hours. Note the divergence in on balance volume.
Flextronics
(
FLEX |
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PowerRating) missed by 0.02 and
missed on revenues; the company also guided lower.
Computer Associates
(
CA |
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PowerRating) was in-line at
0.24 and guided lower; the company also increased its share repurchase program
by $200 million.
Google
(
GOOG |
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PowerRating) announced Google Base,
which the company describes as "an early-stage test of a product that enables
content owners to easily send their content to Google." Analysts feel this
brings Google closer to competing with EBay.
Boeing
(
BA |
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PowerRating) is expected to report
before the open; look for 0.80.
Centex
(
CTX |
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PowerRating) beat by 0.49–after a tax
refund of 0.21. Q2 profits rose 59%; the company also raised its outlook.
ConocoPhillips
(
COP |
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PowerRating) is due to report
$2.57 before the open. Keep in mind, British Pete did well today.
Bonus stock: Baidu
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BIDU |
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PowerRating) reports
after the bell Wednesday. I am watching two things: 1) that trendline, and 2)
the fact that it was 25 days from the first high to high, and it is now 30 days
from the second high to today. Just looking for a cycle.
Brice Wightman