TradingMarkets 7 Stocks You Need to Know for Monday
It was wham, bam thank you, ma'am for the bulls today as rumors of over 150 publicly traded banks holding greater than five percent bad loans brought the rally to a screeching halt. Five percent is considered the maximum a bank can withstand without becoming insolvent. Further fears that stock market optimism is overdone added to the negative sentiment on the day. Despite the downbeat tone, stocks managed to rally near the close, ending the day well off their lows as bargain hunters took advantage of the fear. The DJIA ended the day down 76.79, the tech heavy Nasdaq gave up 23.83, and the broad based S&P 500 dropped 8.64.
Airline giant Boeing (BA | Chart | News | PowerRating) has further delayed releasing its 787 Dreamliner aircraft after finding flaws in 23 of the planes.
The fiscal second quarter 2010 is expected to show 53 cents/share for home do-it-yourself retailer Lowe's (LOW | Chart | News | PowerRating), prior to trading on Monday.
Beat down CIT Group (CIT | Chart | News | PowerRating) has traders expecting a loss of $1.83 for the second quarter 2009 Monday morning before the bell.
Announcing after the close on Monday, Agilent Technologies (A | Chart | News | PowerRating) is expecting to see fiscal third quarter results of 11 cents/share.
Rumor has it that BB&T Corp (BBT | Chart | News | PowerRating) is taking over near dead Colonial Bancgroup (CNB | Chart | News | PowerRating).
American International Group (AIG | Chart | News | PowerRating) has just made an unusual amendment to its bylaws making sure that the Chairman is independent from management.
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