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Stocks sold off again on Wednesday as new highs in crude oil and the likelihood that the Federal Reserve will not be lowering its rate in the near term weighed on the markets.
The Dow was down 227.49. The Nasdaq was lower by 43.99. And the S&P 500 ended the day off by 22.69.
Here are 7 Stocks You Need to Know for Thursday
Gamestop (GME | Quote | Chart | News | PowerRating) reports earnings Thursday before the market opens, with analysts expecting earnings per share of $0.35.
Concern over whether or not computer errors at Moody's (MCO | Quote | Chart | News | PowerRating) allowed debt instruments to be mislabeled "AAA" led to a sharp sell-off in the stock on Thursday.
Airlines stocks were particularly hard hit on Thursday with AMR Corp. (AMR | Quote | Chart | News | PowerRating) and UAL Corp. (UAUA | Quote | Chart | News | PowerRating) both down more than 20%.
Hormel Foods (HRL | Quote | Chart | News | PowerRating) is scheduled to announce earnings Thursday morning before the bell. Analysts are expecting $0.55 EPS.
Reporting earnings before the open on Thursday, Ann Taylor (ANN | Quote | Chart | News | PowerRating) is expected to announce earnings per share of $0.46 for the quarter.
Lehman Brothers (LEH | Quote | Chart | News | PowerRating) finished lower by more than 5% on criticism of its hedging practices and a lower Q2 EPS estimate by Merrill Lynch.
Do you think that Lehman Brothers will be up or down on Friday? Play the Tradingmarkets Up or Down Stock Contest for your chance to win $1,000 a month by correctly guessing the direction of a stock!
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