TradingMarkets 7 Stocks You Need to Know for Friday

Sellers dominated for most of Thursday, as profit-taking from the rally at the beginning of the month created increasingly oversold conditions. Those oversold conditions helped spark a surprising late rally in the final hour that significantly trimmed losses and resulted in some modest gains.

The Dow fell 6.77. The Nasdaq Composite ended the day higher by 11.21. And the S&P 500 finished up 1.45.

Here are 7 Stocks You Need to Know for Friday.

Abercrombie & Fitch
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reports quarterly earnings Friday morning before the market opens. Analysts are expecting EPS of 1.00.

Also reporting earnings on Friday before the bell is PepsiCo
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, which is expected to announce earnings per share of 88 cents.

A number of restaurants reported earnings after the bell on Thursday including Cheesecake Factory
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which announced EPS of 15 cents, beating analyst estimates by a penny.

Wells Fargo
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announced after the close on Thursday that it was taking a charge of more than $320 million and cutting 2008 earnings per share by five cents.

Blaming the weak global economy and botched acquisition deals, Dow Chemical
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announced that it was cutting its dividend for the first time in more than 90 years.

What stocks were advancing on Thursday? Coca Cola
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gained more than 7% after reporting earnings that were not as bad as feared on Thursday. Also higher on the day was Valero Energy Corporation
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, which had its target price raised by Goldman Sachs to $25 from $18.

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