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A slew of negative economic news kept shares trading in negative territory for most of the session. Consumer credit fell for the 4th straight month and the IMF forecast further contraction for 2009. Despite the rally-crushing news, bargain hunters were able to push the DJIA higher by +14.81 to 8178.41, the Nasdaq poked ahead by +1.00 to 1747.17 but the broad based S&P 500 failed to break the positive barrier slipping -1.47 to 879.56.
Here are 7 stocks you need to know about for Thursday:
Dow stalwart Alcoa (AA | Quote | Chart | News | PowerRating) posted 47 cents/share loss after the bell for the 2nd quarter. It's the first DJIA stock to report.
Rumors of a speculative trading clampdown pushed shares of the Intercontinental Exchange (ICE | Quote | Chart | News | PowerRating) and the Chicago Mercantile Exchange (CME | Quote | Chart | News | PowerRating) lower on the day.
3Com (COMS | Quote | Chart | News | PowerRating) reports earning before the bell with an expected .04/EPS for the fiscal fourth quarter.
Oil company, Chevron (CVX | Quote | Chart | News | PowerRating), reveals second quarter earnings before the open. Analysts are expecting $1.22/EPS.
Blackrock (BLK | Quote | Chart | News | PowerRating) and Invesco (IVZ | Quote | Chart | News | PowerRating) were among the 9 money managers chosen by the US Treasury to manage the "toxic asset" program.
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