7 Stocks you need to know for Wednesday
The Dow lost 107.46. The Nasdaq Composite ended the day down 20.20. And the S&P 500 slid 11.75.
Here are 7 Stocks You Need to Know for Wednesday.
Traders, investors and analysts alike will be focused on the quarterly earnings report from FedEx (FDX | Quote | Chart | News | PowerRating) due Wednesday morning before the market opens. Per share earnings of 51 cents is what analysts are expecting to hear from the FDX, which has sold off dramatically over the past few days leading up to the earnings announcement.
Three Dow stocks entered extreme oversold territory above the 200-day moving average on Tuesday: Home Depot (HD | Quote | Chart | News | PowerRating), Honeywell (HON | Quote | Chart | News | PowerRating) and Walt Disney (DIS | Quote | Chart | News | PowerRating). All three developed 2-period RSIs of less than 2 intraday.
Impervious to the selling around it, shares of Microsoft (MSFT | Quote | Chart | News | PowerRating) closed higher for a 14th consecutive trading day on Tuesday.
Beginning to rebound after dipping into extreme oversold territory above the 200-day moving average were shares of Apple (AAPL | Quote | Chart | News | PowerRating). The stock closed for two days in a row with a 2-period RSI of less than 3 going into Tuesday's trading.
Deutsche Bank said on Tuesday that home prices in the United States could drop another 14% due to the weak employment picture. The news, combined with a dramatic surge in new housing starts, kept pressure on home builders like Toll Brothers (TOL | Quote | Chart | News | PowerRating).
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