TradingMarkets 7 Stocks You Need to Know for Wednesday: UPS, PCAR, M, LRCX, BIDU, MAT, NVLS
The Dow industrials rallied to close above 12,000 ahead of trading on Wednesday. Leading the way higher out were technology stocks like ^AMD^, up nearly 5%, and Novellus Systems (more on Novellus below). And bounding higher by more than 6% after a two-day pullback were shares of ^ADM^.
Among the companies reporting quarterly earnings on Wednesday are ^TWX^ and ^MRO^ before the bell, and Visa ^V^ and ^YUM^ after the close. All four stocks were higher on the day on Tuesday.
Here are 7 Stocks You Need to Know for Wednesday.
Shares of ^UPS^ rallied by more than 4% on Tuesday, continuing to follow-through to the upside after Friday’s pullback took the stock into oversold territory above the 200-day moving average.
Pulling back by more than 8% and closing lower for the second out of the past three trading days were shares of ^PCAR^ (below).
PCAR is now trading at its lowest level since mid-November 2010.
Also down two out of the past three sessions are shares of ^M^. The stock, which is trading just above its 200-day moving average, has been rangebound for nearly a month.
^LRCX^ gained more than 4% in trading on Tuesday, significantly retracing losses from late last week.
Shares of LRCX have rallied from their second significant pullback in the second half of January alone.
Up more than 9% on Tuesday, ^BIDU^ rallied to new highs and back into overbought territory above the 200-day moving average.
Shares of ^NVLS^ climbed more than 5% on Tuesday, taking out the most recent high from mid-January. The stock’s close at the end of trading on Tuesday was just outside of overbought territory.
NVLS’s big move comes as part of the stock’s continued rally from a four-day pullback going into the final days of trading in January.
It was a tale of two toy stocks in Tuesday’s trading. While shares of ^MAT^ gained for a second day ahead of the company’s scheduled quarterly earnings announcement on Wednesday, shares of ^HAS^ pulled back by more than 1%, closing lower for two out of the past three trading days.
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David Penn is Editor in Chief of TradingMarkets.com