TradingMarkets 7 Stocks You Need to Know for Wednesday: DELL, ANF, NVDA, MON, FDX, VZ, YHOO
The stock market pulled back from overbought territory ahead of trading on Wednesday. Among the better performing stocks of the S&P 500 were ^WYN^, up more than 6% after closing lower for three out of the previous four trading days and ^GPS^. Shares of GPS have closed higher for nine straight sessions, the past six in overbought territory above the 200-day.
A handful of gold stocks are reporting earnings on Wednesday such as ^KGC^ and ^HL^. Shares of Kinross Gold are overbought below the 200-day moving average, while shares of Hecla are overbought above the 200-day, including a gain of well over 3% on Tuesday.
Here are 7 Stocks You Need to Know for Wednesday.
Shares of ^DELL^ pulled back by more than 1% ahead of their quarterly earnings announcement after the bell on Tuesday. DELL beat analyst estimates and reported revenues that were in-line with expectations. Afterhours trading in the stock was halted briefly immediately following the earnings announcement.
Down two days in a row leading up the company’s scheduled earnings report Wednesday morning before the bell were shares of ^ANF^ (below).
ANF is still well into neutral territory after losing 2% on Tuesday.
Reporting earnings after the bell on Wednesday is ^NVDA^. The stock is down two days in a row and closed lower by more than 2% in trading on Tuesday.
Some of the bigger pullbacks ahead of trading on Wednesday were in the chemical sector, with shares of ^MON^ (below) down more than 4% to lead the group lower.
Shares of Monsanto closed in oversold territory above the 200-day moving average for only the third time this year.
Closing higher for the third day out of the past four were shares of ^FDX^. The stock closed up more than 2%.
^VZ^ (below) rallied by more than 1% after a three-day pullback above the 200-day moving average.
The stock’s third consecutive lower close on Monday was just outside of oversold territory.
Up for a fourth day in a row and closing in overbought territory above the 200-day moving average ahead of trading on Wednesday were shares of ^YHOO^. YHOO gained more than 1% on the day.
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David Penn is Editor in Chief of TradingMarkets.com