Stocks moved dramatically lower on Wednesday as overbought conditions from the past few days continued to unwind.
The Dow lost 245.40. The Nasdaq Composite fell 53.32. And the S&P 500 closed lower by 28.05.
Here are 7 Stocks You Need to Know for Thursday.
Intel ( INTC | Quote | Chart | News | PowerRating) warned that fourth quarter revenues will be lower than analysts are expecting. The negative news from Intel helped drag the entire technology sector lower on Wednesday.
Bed Bath and Beyond ( BBBY | Quote | Chart | News | PowerRating) reported EPS of 34 cents after the close on Wednesday beating analyst estimates by a penny.
Sales of seeds and weed-killer helped boost the bottom line at Monsanto ( MON | Quote | Chart | News | PowerRating), which beat analyst earnings expectations Wednesday morning with first quarter profits that were more than double those from the same quarter last year.
A $25 billion writedown means that Time Warner ( TWX | Quote | Chart | News | PowerRating) will likely report its first annual loss in six years.
General Motors ( GM | Quote | Chart | News | PowerRating) and Coca Cola ( KO | Quote | Chart | News | PowerRating) were the only two Dow stocks to move higher on Wednesday.
Money flows into consumer durable stocks helped boost shares of grocery chains like Supervalu ( SVU | Quote | Chart | News | PowerRating) by more than 8%. Supervalu was highlighted as one of our TradingMarkets 7 Stocks You Need to Know for Wednesday.
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