September roared like a lion on the first trading day of the month. Stocks melted down on fears that the rally is overextended and further losses are imminent. Extremely unusual put volume in Wells Fargo and a spiking VIX index signals that investors are scrambling to protect their present gains. Positive words from the manufacturing front did little to stem the full scale aggressive selling. The DJIA plummeted 185.68, the tech heavy Nasdaq fell 40.17, and the broad based S&P 500 dropped 22.58.
Here are 7 stocks you need to know for Wednesday.
Jeweler Zale (ZLC | Chart | News | PowerRating) has its fingers crossed that losses don't exceed 77 cents/share for the fiscal fourth quarter 2009 prior to the opening of trading on Wednesday.
96 cents/share is the expected fiscal third quarter 2009 earnings for Joy Global (JOYG | Chart | News | PowerRating), to be announce Wednesday before the bell.
AT&T (T | Chart | News | PowerRating) was just awarded a $45 million dollar government contract to provide communication services.
eBay (EBAY | Chart | News | PowerRating) is dumping a 65% share in its internet phone service, Skype, to private investors including Netscape co-founder Marc Andreessen.
American Airlines (AMR | Chart | News | PowerRating) is slashing 921 flight attendant positions in a drastic cost cutting measure.
34 cents/share is the forecast number for the fiscal second quarter 2010 for Blyth Inc (BTHChart | News | PowerRating). BTH will reveal prior to trading on Wednesday morning. |
Home builder, Hovnanian Enterprises (HOV | Chart | News | PowerRating), sure hopes the losses don't exceed $1.60/share for its fiscal third quarter 2009, announcing after the trading
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