7 Stocks you need to know for Wednesday

The SEC announced that it will place restrictions on short selling in both Fannie Mae (FNM | Quote | Chart | News | PowerRating) and Freddie Mac (FRE | Quote | Chart | News | PowerRating) as hedge fund manager William Ackman placed his bets against the struggling mortgage lenders. Fannie Mae was lower by more than 27% on the day. Freddie Mac finished down 26%.

Analysts are expecting EPS of $0.79 when Abbott Labs (ABT | Quote | Chart | News | PowerRating) reports earnings Wednesday before the market opens. Abbott Labs closed Tuesday up nearly 3%.

Intel (INTC | Quote | Chart | News | PowerRating) beat analyst estimates by $0.03 in its earnings report Tuesday after the close. The stock was higher by 3% minutes after the announcement.

General Motors (GM | Quote | Chart | News | PowerRating) will suspend its dividend as part of an effort to raise $15 billion by the end of 2009. General Motors finished Tuesday up nearly 5%.

A Wachovia downgrade to "market perform" helped drive shares of American International Group (AIG | Quote | Chart | News | PowerRating) to their lowest levels in more than a decade. Shares of AIG were lower by more than 8%.

eBay (EBAY | Quote | Chart | News | PowerRating) reports earnings Wednesday after the close. Analysts are expecting earnings per share of 0.41. The stock was down 2% on Tuesday.