Wednesday Morning Coffee with TradingMarkets

Good Morning!

eBay Earnings Anticipated In-line ... Intel Wins with Worldwide Demand for Laptops ... Greenbacks Struggle Against Rival Currencies on Fannie, Freddie Bailout Fears ... Fewer Jobs, Suspended Dividend Part of GM Plan to Raise $15 Billion ... SEC Stops Naked Short Selling in Fannie, Freddie, Brokerage Stocks

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TradingMarkets 5 Business Stories You Need to Know

eBay Earnings Out Today - The Age
Fighting legal battles over alleged counterfeit goods sold through the online auction portal, eBay is expected to report in-line earnings Wednesday evening after the closing bell.

eBay is the Featured Stock in our TradingMarkets Up or Down Stock Contest. You have until 4 p.m. EST today to tell us whether eBay will be Up or Down on Thursday. Click here to register for free for your chance to win $1,000 by correctly guessing the direction of a stock!

Intel Profits Strong - Wall Street Journal
Demand outside the United States and a love for mobile computing combined to boost earnings for Intel in the second quarter.

Dollar Down Against Euro - Financial Times
News of the growing role the U.S. government is taking in helping ailing banks and mortgage lenders helped send the dollar lower against major currencies including the Euro.

General Motors Cuts Jobs, Suspends Dividend - Forbes
The automaker's goal of raising $15 billion by the end of 2009 will be delivered on the back of laid-off workers and dividend-free shareholders.

SEC Seeks Short Sales Curbs on Fannie, Freddie - Bloomberg
Chairman Cox targets naked short selling in his effort to blunt the effect of speculation that both Fannie Mae and Freddie Mac are likely to head far lower.

For more stories as they happen, go to our Breaking News section.

TradingMarkets 7 Stocks You Need to Know for Today

Here are 7 stocks for traders for today from TradingMarkets.com:

• The SEC announced that it will place restrictions on short selling in both Fannie Mae (FNM | Quote | Chart | News | PowerRating) and Freddie Mac (FRE | Quote | Chart | News | PowerRating) as hedge fund manager William Ackman placed his bets against the struggling mortgage lenders. Fannie Mae was lower by more than 27% on the day. Freddie Mac finished down 26%.
  

• Analysts are expecting EPS of $0.79 when Abbott Labs (ABT | Quote | Chart | News | PowerRating) reports earnings Wednesday before the market opens. Abbott Labs closed Tuesday up nearly 3%.
  
  
• Intel (INTC | Quote | Chart | News | PowerRating) beat analyst estimates by $0.03 in its earnings report Tuesday after the close. The stock was higher by 3% minutes after the announcement.
  
  
• General Motors (GM | Quote | Chart | News | PowerRating) will suspend its dividend as part of an effort to raise $15 billion by the end of 2009. General Motors finished Tuesday up nearly 5%.
  
  
• A Wachovia downgrade to "market perform" helped drive shares of American International Group (AIG | Quote | Chart | News | PowerRating) to their lowest levels in more than a decade. Shares of AIG were lower by more than 8%.
  
  
• eBay (EBAY | Quote | Chart | News | PowerRating) reports earnings Wednesday after the close. Analysts are expecting earnings per share of 0.41. The stock was down 2% on Tuesday.
  

For a list of today's highest PowerRating stocks, click here.

TradingMarkets 5 PowerRatings Stocks for Today

TradingMarkets Making Great Traders

Gary Kaltbaum's Weekly Conference Call Today! - TradingMarkets
Are you a member of Gary's Gallery? Join Fox Business guest commentator and long-time TradingMarkets contributor Gary Kaltbaum in his weekly Conference Call today at 1 p.m. EST at TradingMarkets.com. Come see the markets the way a pro sees that markets. Click the headline above to register for this free event.

Kevin Haggerty Trader Conference Call at 12:30 p.m. EST Tomorrow - TradingMarkets
Kevin Haggerty, professional trader and former head of the Fidelity Capital Markets trading desk, analyzes the current market and shows where traders can find opportunity. You can catch Kevin live at TradingMarkets Thursday afternoon by clicking the headline to reserve your spot now.

Price Patterns That Every Trader Should Know - TradingMarkets
Will you recognize an opportunity when you see it? TradingMarkets contributor Austin Passamonte points out the sort of market behavior that traders can't afford to miss.

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