7 Stocks you need to know for Thursday

Morgan Stanley (MS | news | PowerRating | PR Charts ) reported a 42% decline in first quarter profit, but beat estimates by $0.42. MS shares rose 1.4%.

Shares of Adobe Systems (ADBE | news | PowerRating | PR Charts ) jumped 9% after reporting earnings of $0.48, beating estimates by $0.03.

On its market debut, shares of Visa (V | news | PowerRating | PR Charts ) surged 28.4% on the NYSE. Visa's IPO was the largest in U.S. history.

Merrill Lynch (MER | news | PowerRating | PR Charts ) filed a lawsuit against XL Capital Assurance in an attempt to force the bond insurer to honor $3.1 billion of guarantees on CDOs.

After the close, Nike (NKE | news | PowerRating | PR Charts ) reported third quarter earnings of $0.92, beating estimates by $0.11.

Before the market open, Carnival (CCL | news | PowerRating | PR Charts ) is expected to report earnings of $0.29 per share.

Also before the open, FedEx (FDX | news | PowerRating | PR Charts ) is scheduled to report, with analysts looking for $1.22.