TradingMarkets 7 Stocks You Need to Know for Friday

Stocks were hammered a day after the Fed announced its decision to keep the Fed funds rate at 2%. Oil soared to a new record of more than $140 a barrel.

The Dow lost 358.41. The Nasdaq Composite fell 79.89. And the S&P 500 closed lower by 38.82.

Here are 7 Stocks You Need to Know for Friday

Bed Bath and Beyond (BBBY | Quote | Chart | News | PowerRating) bounded higher by more than 4% on the announcement that profits were not as bad as expected given the retrenchment in consumer spending.

Missing revenue and earnings estimates and disappointing analysts with its forecast, Blackberry-maker Research in Motion (RIMM | Quote | Chart | News | PowerRating) lost more than 13% in trading on Thursday.

The Wall Street Journal reported that Anheuser Busch (BUD | Quote | Chart | News | PowerRating) intends to reject the $46.3 billion unsolicited bid from the Belgian brewer, InBev.

Goodyear Tire and Rubber (GT | Quote | Chart | News | PowerRating) plunged 11% on the news that the company would spend more than $1 billion a year on plants and equipment.

Goldman Sachs suggested that Citigroup (C | Quote | Chart | News | PowerRating) may have to write down an additional $8.9 billion for the second quarter. Citigroup was down 6% on the day.

KB Home (KBH | Quote | Chart | News | PowerRating) announces earnings Friday before the bell, with analysts expecting a loss of $0.94 per share.

An Olympic year marketing push continues to weigh on Nike (NKE | Quote | Chart | News | PowerRating) and its bottom line. The sporting goods company beat analyst estimates but warned of a challenging consumer environment in the U.S.

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