Stocks sold off sharply to start the week, with the Nasdaq leading the way lower on a percentage basis. The Dow industrials lost 134.50. The Nasdaq finished down 31.13. And the S&P 500 closed lower by 14.71.

Here are 7 Stocks You Need to Know for Tuesday

News that the Centro smartphone was taking customers away from the iPhone boosted shares of Palm ( PALM | Quote | Chart | News | PowerRating) which manufactures the Internet-capable device.

An upgrade from Deutsche Bank AG helped oil refiners such as Tesoro ( TSO | Quote | Chart | News | PowerRating) move higher on Monday.

Lehman Brothers ( LEH | Quote | Chart | News | PowerRating) was among a number of Wall Street investment banks that saw its debt rating downgraded by Standard and Poor's on Monday.

Acorda Therapeutics ( ACOR | Quote | Chart | News | PowerRating) was a standout stock on Monday as investors bid shares higher in the wake of positive clinical trial results for the biotech company's multiple sclerosis drug.

Toll Brothers ( TOL | Quote | Chart | News | PowerRating) is scheduled to announce quarterly earnings tomorrow morning before the bell. Analysts are expecting a loss of 0.87 EPS.

The board of directors of Wachovia ( WB | Quote | Chart | News | PowerRating) finally removed CEO Ken Thompson, while Washington Mutual ( WM | Quote | Chart | News | PowerRating) announced that Kerry Killinger would be replaced as chairman - though Killinger will stay on as CEO.

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