TradingMarkets 7 Stocks You Need to Know for Wednesday

• By David Goodboy
• On 4:00 pm EDT, Tuesday October 13, 2009

Disappointing sales numbers from Johnson & Johnson and Goldman Sachs being sacked by Meredith Whitney put a fast end to this week's market optimism. Gold climbed to a new record high and the dollar continued to experience weakness on the session. The DJIA closed down 14.74, the tech heavy Nasdaq managed to gain 0.75, and the S&P 500 gave back 3.01.

Here are 7 stocks you need to know for Wednesday. Find high probability stock trading strategies for stocks such as these in Larry Connors' book, Short Term Trading Strategies That Work.

Abbott Labs (NYSE:ABT - News) is focused on a fiscal third quarter 2009 EPS of 90 cents prior to the opening of trading. The Stock PowerRating for ABT is 6.

51 cents/share is the expected third quarter 2009 EPS for Commerce Bancshares (NasdaqGS:CBSH - News) before the open on Wednesday morning. The Stock PowerRating for CBSH is 5.

Highly anticipated JP Morgan Chase (NYSE:JPM - News) earnings will be revealed prior to trading with an expected EPS of 49 cents for the fiscal third quarter. The Stock PowerRating for JPM is 5.

Progressive Corp (NYSE:PGR - News) has analysts awaiting a third quarter 2009 EPS of 33 cents before the bell. The Stock PowerRating for PGR is 6.

Goldman Sachs (NYSE:GS - News) was downgraded by Meredith Whitney to "neutral". The Stock PowerRating for GS is 5.

Xilinx Inc (NasdaqGS:XLNX - News) has forecast a third quarter EPS of 21 cents after the close. The Stock PowerRating for XLNX is 5.

40 cents/share is the expected third quarter earnings for the WD-40 Company (NasdaqGS:WDFC - News) after the bell. The Stock PowerRating for WDFC is 2.

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