Monday, July 21, 2008

7 Stocks You Need to Know for Tuesday

Swiss pharmaceutical giant Roche announced a $43.7 billion bid for the 44% of Genentech (DNA | Quote | Chart | News | PowerRating) it does not already own. Shares of Genentech closed up more than 14%.

Wachovia (WB | Quote | Chart | News | PowerRating) reports earnings tomorrow morning before the opening bell. Analysts are expecting a loss of $0.78 per share. Wachovia ended the day up a little more than 1%.

Disappointing results over the drug, Vytorin, that it is co-marketing with Merck, led to losses for Schering-Plough (SGP | Quote | Chart | News | PowerRating) on Monday. The stock was down more than 11%.

Bank of America (BAC | Quote | Chart | News | PowerRating) reported earnings on Monday that were lower, but not as bad as feared by analysts. Bank of America shares ended the day up more than 3%.

In the latest move of the Great Yang/Icahn Showdown, the activist investor has agreed to accept three seats on the Yahoo! (YHOO | Quote | Chart | News | PowerRating) board of directors rather than follow-through on a proxy fight. The stock closed lower by more than 3%.

Reporting earnings before the market opens on Tuesday, Caterpillar (CAT | Quote | Chart | News | PowerRating) is expected to announce EPS of $1.54. Traders bid shares of CAT higher by more than 3%.

Analysts are expecting earnings per share of $3.86 when the CME Group Inc. (CME | Quote | Chart | News | PowerRating) reports earnings tomorrow before the bell. CME was off slightly at a little more than 2% on Monday.

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