Monday, May 18, 2009

7 Stocks you need to know for Tuesday

The Dow gained 235.44. The Nasdaq Composite closed higher by 52.22. And the S&P 500 ended the day up 26.83.

Here are 7 Stocks You Need to Know for Tuesday.

The biggest earnings announcement on Tuesday may be the one from Hewlett-Packward (HPQ | Quote | Chart | News | PowerRating), which is expected to report EPS of 86 cents after the close. HPQ closed up more than 2% and is increasingly overbought below its 200-day moving average.

Among the companies reporting quarterly earnings before the bell Tuesday morning, Home Depot (HD | Quote | Chart | News | PowerRating) is expected to announce EPS of 29 cents, while analysts are expecting per share earnings loss of 0.24 from upscale clothing retailer Saks (SKS | Quote | Chart | News | PowerRating). Home Depot rallied by more than 6% while Saks, which trades below its 200-day moving average, soared by a whopping 22%.

Goldman Sachs (GS | Quote | Chart | News | PowerRating) moved Northrop Grumman (NOC | Quote | Chart | News | PowerRating) to its "conviction sell" list as part of an overall downgrade of the defense sector. Trading below its 200-day moving average, NOC opened at its lows and rallied by more than 3% on the day.

Along with Goldman Sachs, both Morgan Stanley (MS | Quote | Chart | News | PowerRating) and JP Morgan Chase (JPM | Quote | Chart | News | PowerRating) have applied for permission to repay a combined total of $45 billion in TARP capital borrowed. MS and JPM both trade above their 200-day moving averages and were up more than 8% and 6%, respectively.

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