TradingMarkets 7 Stocks You Need to Know for Tuesday

Stocks sold off aggressively to start the final trading week of August, with the Dow, Nasdaq and S&P 500 all losing 2% or more on the day.

The Dow lost 241.81. The Nasdaq Composite fell by 49.12. And the S&P 500 ended the day lower by 25.36.

Here are 7 Stocks You Need to Know for Tuesday.

Increasingly overbought, shares of Advanced Micro Devices (AMD | Quote | Chart | News | PowerRating) gained more than 2% on Monday as traders cheered the company's decision to sell one of its semiconductor units to Broadcom (BRCM | Quote | Chart | News | PowerRating). Shares of Broadcom were down more than 4%.

Analysts are expecting EPS of $-0.04 when Smithfield Foods (SFD | Quote | Chart | News | PowerRating) reports earnings Tuesday morning before the market opens.

Credit Suisse Group AG warned on Monday that American International Group (AIG | Quote | Chart | News | PowerRating) was likely to report housing-bust related writedowns costing more than $2.4 billion.

Shares of LDK Solar Company (LDK | Quote | Chart | News | PowerRating) were up more than 9% late in trading on Monday as the maker of solar wafers reported that its 2009 deliveries would likely be double previous estimates.

Freddie Mac (FRE | Quote | Chart | News | PowerRating) rallied on Monday after a successful weekly auction of more than $2 billion in short term notes. The stock was higher by more than 17%.

Big Lots (BIG | Quote | Chart | News | PowerRating) reports earnings Tuesday morning before the market opens. Analysts are expecting EPS of $0.27

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