7 Stocks you need to know for Wednesday
Monsanto (MON | Quote | Chart | News | PowerRating) reports earnings Wednesday before the market opens. Analysts are expecting a loss of 13 cents per share.
A downgrade to "underperform" by Merrill Lynch led traders and investors to sell shares of Walt Disney (DIS | Quote | Chart | News | PowerRating), which fell by nearly 6% on Tuesday.
Among the few stocks to do well this week, Safeway (SWY | Quote | Chart | News | PowerRating) rallied by more than 5% late in trading on Tuesday. The stock remains below its 200-day moving average.
The biggest decliner in the Dow industrials, Bank of America (BAC | Quote | Chart | News | PowerRating) lost more than 26% on Tuesday.
Advanced Micro Devices (AMD | Quote | Chart | News | PowerRating) was up nearly 10% late in trading on Tuesday. AMD plans to spin off divisions as part of an investment of as much as $8.4 billion from the government of Abu Dhabi.
A Barclay's PLC downgrade led to selling in shares of International Business Machines (IBM | Quote | Chart | News | PowerRating), which were down by nearly 5% on Tuesday.
Activist hedge fund manger William Ackman said that Wachovia (WB | Quote | Chart | News | PowerRating) would likely be worth more to potential bidders if the lender were split into two parts.
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