7 Stocks you need to know for Wednesday

The Dow closed down 1.43. The Nasdaq Composite ended up 17.73. And the S&P 500 edged higher by 3.29.

Here are 7 Stocks You Need to Know for Wednesday.

Apple (AAPL | Quote | Chart | News | PowerRating) unveiled a new, $99 iPhone during its Developer's Conference, dropping the price point for the popular smartphone below the psychologically key $100 level. The move is in part hoped to fend off new, low-cost smartphones such as the Pre from Palm.

Men's Wearhouse (MW | Quote | Chart | News | PowerRating) leapt higher by more than 13% on Tuesday. The company reported a surprising quarterly profit.

Google (GOOG | Quote | Chart | News | PowerRating) announced that it would allow access to its online e-mail and calendar applications by way of Microsoft (MSFT | Quote | Chart | News | PowerRating) Outlook.

Edward Whitacre, former CEO at AT&T (T | Quote | Chart | News | PowerRating) will become the new chairman of a reorganized General Motors. Current GM Chairman Kent Kresa will remain until the automaker emerges from its bankruptcy protections.

10 banks have been given the "all clear" to begin repaying TARP funds. These banks include JP Morgan Chase (JPM | Quote | Chart | News | PowerRating) and American Express (AXP | Quote | Chart | News | PowerRating).