TradingMarkets 7 Stocks You Need to Know for Wednesday

• By David Goodboy
• On 4:25 pm EDT, Tuesday October 20, 2009

The bulls were sent scampering back into the barn today despite strong earnings reports. Dire housing data combined with the US Dollar's surprising traction pushed stocks lower on the session. However, the VIX fear index continued to fall indicating there may not be much further downward pressure. The DJIA gave back 50.71, the Nasdaq fell 12.85 and the broad based S&P 500 dropped 6.85.

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.

Wells Fargo (NYSE:WFC - News) is expecting a third quarter EPS of 35 cents before the bell on Wednesday. The Stock PowerRating for WFC is 6.

Investment giant, Morgan Stanley (NYSE:MS - News), has analysts looking for a third quarter EPS of 32 cents prior to trading on Wednesday. The Stock PowerRating for MS is 4.

26 cents is the forecast EPS for US Bancorp's (NYSE:USB - News) third quarter on Wednesday before 9:30 AM EST. The Stock PowerRating for USB is 5.

Smokes kingpin, Altria Group (NYSE:MO - News), has traders expecting a third quarter EPS of 46 cents before trading commences. The Stock PowerRating for MO is 5.

$1.02/share is the projected third quarter number for Eli Lilly (NYSE:LLY - News) prior to the open. The Stock PowerRating for LLY is 5.

Genzyme Corp (NasdaqGS:GENZ - News) has its eye on 31 cents/share before the open for the third quarter. The Stock PowerRating for GENZ is 5.

A loss of $2.12/share is the forecast number for Boeing's (NYSE:BA - News) third quarter prior to the trading day. The Stock PowerRating for BA is 5.

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