7 Stocks you need to know for Monday

American International Group's (AIG | news | PowerRating | PR Charts ) record $5.29 billion loss led to widespread selling on Friday.

Meanwhile, a 6% decline in quarterly profit at Dell (DELL | news | PowerRating | PR Charts ) weighed on the technology sector.

After the market close, Berkshire Hathaway (BRK.A | news | PowerRating | PR Charts ) reported an 18% decline in fourth quarter profit and warned investors that "insurance-industry profit margins, including ours, will fall significantly in 2008".

Northrop Grumman (NOC | news | PowerRating | PR Charts ) won a $35 billion contract to build air refueling tankers.

The news Northrop Grumman was a major blow to market leader Boeing (BA | news | PowerRating | PR Charts ).

Late on Friday, The Wall Street Journal reported that Countrywide Financial (CFC | news | PowerRating | PR Charts ) may be sanctioned for "alleged abuses of the bankruptcy system."

And finally, do you think Merrill Lynch (MER | news | PowerRating | PR Charts ) will close up or down on Tuesday? Play TradingMarkets Up or Down Daily Stock Contest for the chance to win $1000 every month by predicting the direction of a stock.