Wednesday, June 24, 2009

7 Stocks you need to know for Thursday

Stocks closed mixed on the cusp of the Fed's decision to keep rates unchanged. Positive rhetoric concerning inflation and the recession counteracted the negative Fed bad conduct rumors swirling about today. The DJIA closed down 23.05, the Nasdaq climbed 27.42, and the S&P 500 advanced 5.84.

Bed Bath & Beyond (BBBY | Quote | Chart | News | PowerRating) reported a first quarter net income of 0.34 cents/share up from 0.30 cents a year ago. However, same store sales slumped 1.6% during the same period.

The sports shoe giant Nike (NKE | Quote | Chart | News | PowerRating) positively surprised analysts by reporting earnings of 0.99 cents/share and posting revenue of $4.71 billion.

ConAgra Foods (CAG | Quote | Chart | News | PowerRating) reports fourth fiscal quarter earnings before the bell Thursday. Analysts are expecting 0.41 cents/share.

Smart phone maker Palm Inc (PALM | Quote | Chart | News | PowerRating) reports fiscal fourth quarter results after the close with an expected loss of 0.72 cents/share.

Hedge Fund manager, Eddie Lampert, has sold over 400,000 shares of AutoZone (AZO | Quote | Chart | News | PowerRating) significantly cutting his stake in the auto part company.

The Organization for Economic Co-operation and Development raised its commodity forecasts sending shares of Alcoa (AA | Quote | Chart | News | PowerRating) and International Paper (IP | Quote | Chart | News | PowerRating) higher.

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