TradingMarkets 7 Stocks You Need to Know for Thursday: PGR, SWY, INTC, AMD, GOOG, VZ, WMB
Overbought markets continued to become even more overbought at mid-week as both the ^SPY^ and the ^QQQQ^ closed at new intermediate term highs above the 200-day moving average.
Bounding higher by more than 2% were shares of ^FDX^, a stock noted in yesterday’s 7 Stocks You Need to Know column. Continuing to pull back were shares of ^HD^ – now down three days in a row.
Here are 7 Stocks You Need to Know for Thursday.
Reporting quarterly earnings before the market opens on Thursday are both ^PGR^ and ^SWY^.
Shares of SWY were up more than 3% ahead of the grocery chain’s scheduled earnings report. Prior to Wednesday’s rally, the stock had pulled back for four consecutive trading days.
Down more than 2% and erasing five days’ worth of gains were shares of ^INTC^ on Wednesday. The stock had opened at a new short term high, but profit-taking soon set in, sending the stock significantly lower.
Two technology companies are reporting earnings after the bell on Thursday. These companies include ^AMD^ (below), which pulled back by nearly 1% in Wednesday’s trading.
The other tech company reporting Thursday afternoon is ^GOOG^. Shares of Google reversed lower after opening higher. But the stock still managed to close higher for a fourth straight session.
Shares of ^VZ^ (below) have now closed lower for five out of the past six trading days.
VZ was at new year-to-date highs as recently as last week. Wednesday’s pullback puts the stock at its lowest level since late September.
Soaring by well over 9% and closing at its highest level since May on Wednesday was ^WMB^. The stock also closed above its 200-day moving average for the first time since mid-June.
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David Penn is Editor-in-Chief at TradingMarkets.com.