Wednesday, December 03, 2008

7 Stocks you need to know for Thursday

A ComScore report saying that online sales on Cyber Monday were second only to those from last December helped boost shares of Amazon.com (AMZN | Quote | Chart | News | PowerRating) on Wednesday.

Among the weakest stocks in the market on Wednesday were metal and mining stocks. Freeport McMoran Copper & Gold (FCX | Quote | Chart | News | PowerRating) fell by more than 20% as the company reported that it was suspending its dividend and considering writedowns if metal prices remained soft.

Also struggling on Wednesday were oil service stocks such as Schlumberger (SLB | Quote | Chart | News | PowerRating), which warned of lower profits for fiscal 2008.

Speculation grew late on Wednesday that Toshiba would make a takeover bid for SanDisk (SNDK | Quote | Chart | News | PowerRating). SanDisk has been in the news in recent months as a potential acquiree, with Samsung the most recent failed suitor.

General Motors (GM | Quote | Chart | News | PowerRating), Ford Motor Company (F | Quote | Chart | News | PowerRating) and Chrysler won major concessions from the United Auto Workers union one day after announcing restructuring plans that combined ask for $36 billion in assistance.

Toll Brothers (TOL | Quote | Chart | News | PowerRating) reports quarterly earnings Thursday morning before the market opens. Analysts are expecting an EPS loss of 47 cents.

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