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Stocks ended Tuesday strongly higher with the Nasdaq being the percentage leader on the day.
The Dow closed up 152.25. The Nasdaq Composite ended the day higher by 51.12. And the S&P 500 finished ahead by 21.39.
Here are 7 Stocks You Need to Know for Wednesday
In spite of shrinking profit margins and steep discounts on big ticket items, Saks (SKS | Quote | Chart | News | PowerRating) saw its shares bounce on Tuesday from significantly oversold conditions. Saks closed up by more than 3%.
Apple Inc. (AAPL | Quote | Chart | News | PowerRating) announced plans to sell its iPhone 3G on Friday July 11th at 8 am across time zones. Apple, up more than 2% on Tuesday, gained for the third day in a row.
Anheuser-Busch (BUD | Quote | Chart | News | PowerRating) asked a federal judge to block the planned, $43.6 billion takeover by Belgian beermarker, InBev. The stock was virtually unchanged on Tuesday.
Shaw Group (SGP | Quote | Chart | News | PowerRating) reports earnings Wednesday after the close. Analysts are expecting EPS of $0.63. The stock was up more than 4% on Tuesday, marking its fourth consecutive higher high.
Reporting earnings on Tuesday after the closing bell, Alcoa (AA | Quote | Chart | News | PowerRating) announced EPS of $0.66, in line with analyst estimates. The stock had closed lower by more than 3% in advance of the earnings report.
Shares of VMWare (VMW | Quote | Chart | News | PowerRating) were down more than 24% on Tuesday on news that the company had ousted its CEO and co-founder Diane Greene and was lowering its revenue forecast for the second quarter.
Biogen Idec (BIIB | Quote | Chart | News | PowerRating) was among the big gainers among health care stocks today as the company electecd to raise the price on its multiple sclerosis drugs. The stock closed higher by nearly 7%.
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