TradingMarkets 7 Stocks You Need to Know for Wednesday

Stocks sold off in the second half of the trading day, reversing all of Monday’s gains in the S&P 500 and setting a new monthly closing low in the Nasdaq.

The Dow fell by 280.01. The Nasdaq Composite ended the day lower by 59.95. And the S&P 500 lost 43.28.

Here are 7 Stocks You Need to Know for Wednesday.

The end of negotiations with Korea Development Bank sent shares of Lehman Brothers Holdings
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sharply lower on Tuesday.

Cardica Inc.
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, featured in TradingMarkets’ “Trading Where the Action Is!” midday report on Monday, was up more than 30% on Tuesday as the FDA approved the company’s new heart bypass surgery system.

Among the biggest pullbacks in the Dow industrials, American International Group
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lost more than 19% on the day.

Lower on the day and pulling back below its 200-day moving average, JP Morgan Chase
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lost more than 4% on Tuesday.

Among the few Dow stocks to finish in the green on Tuesday, McDonalds Corporation
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ended the day up more than 1%, closing well off its intraday highs, however.

Representative of a continuing slide in energy stocks, Massey Energy
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was down more than 19% on Tuesday.

Steve Jobs of Apple Inc.
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announced thinner and cheaper iPod models as well as new media players with increased storage capacity in a widely-anticipated media event on Tuesday.

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