7 Stocks you need to know for Wednesday

A report from CNBC that said Carl Ichan was considering a proxy fight against the board of Yahoo! (YHOO | news | PowerRating | PR Charts ) sent the company's stock soaring by more than 5% on Tuesday.

Electronic Arts (ERTS | news | PowerRating | PR Charts ) reported larger losses on Tuesday, though the company beat expectations for revenues and profits after special costs were excluded.

American International Group (AIG | news | PowerRating | PR Charts ) raised more than $17 billion as part of its capital-raising plan, far more than the $12.5 billion suggested a week ago.

Canadian Solar (CSIQ | news | PowerRating | PR Charts ) reported dramatically higher earnings on Tuesday and raised guidance.

Sharply lower net income for the second quarter by Applied Materials (AMAT | news | PowerRating | PR Charts ) suggested softening demand for semiconductors in consumer electronics.

Higher quarterly profits did not help shares of retailer T.J. Maxx (TJX | news | PowerRating | PR Charts ) which was sharply lower on Tuesday due to good, but not great, guidance.

Hewlett Packard (HPQ | news | PowerRating | PR Charts ) announced that it would pay $13.9 billion for Electronic Data Systems. The stock finished down by more than 5%.