TradingMarkets 7 Stocks You Need to Know for Wednesday
Stocks turned in another lackluster performance on Tuesday after weaker than expected earnings from Alcoa, AMD’s warning and WaMu’s attempt to restore its balance sheet.
The Dow fell -35.99, the Nasdaq Composite rose -16.07 and the S&P 500 -7.00.
Here are 7 Stocks You Need to Know for Wednesday:
Alcoa
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PowerRating) missed first quarter estimates by $0.04 on a 52% drop in earnings.
Shares of Advanced Micro Devices
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PowerRating) fell 4.9%, after the company announced Q1 earnings will be lower than expected. AMD also plans to reduce its workforce by 10%.
Washington Mutual
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PowerRating) raised $7 billion in cash from a group of investors, led by TPG, Inc. WaMu also issued earnings guidance substantially below forecasts, slashed its dividend and announced 3,000 job cuts.
Novellus Systems
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PowerRating) issued first quarter guidance below consensus estimates.
Antigenics
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PowerRating) surged nearly 23%, on huge volume, after the company’s kidney cancer drug was approved for use in Russia.
After the market close, Sealy
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PowerRating) reported earnings of $0.17, versus consensus estimates of $0.10.
Before the market open, Circuit City
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PowerRating) is scheduled to report earnings, with analysts expecting a loss of -$0.07 per share.
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