7 Stocks you need to know for Wednesday

Wyeth (WYE | charts | news | PowerRating) is suing Teva Pharmaceutical (TEVA | charts | news | PowerRating) in a patent dispute over the generic heartburn drug Protonix (read more).

Merrill Lynch (MER | charts | news | PowerRating) raised $6.2 billion through a private placement of newly issued common stock to S Holdings and Davis Selected Advisors (read more).

In related news, GE Capital, a unit of General Electric (GE | charts | news | PowerRating), is acquiring most of Merrill Lynch's commercial finance business (read more).

Alcoa (AA | charts | news | PowerRating) agreed to sell its packaging and consumer businesses to the Rank Group Ltd. of New Zealand for $2.7 billion (read more).

Pershing Square Capital Management increased its stake in Target (TGT | charts | news | PowerRating) to 9.97% (read more).

United Rentals (URI | charts | news | PowerRating) terminated its merger deal with Cerberus and requested a $100 million termination fee (read more).