7 Stocks you need to know for Friday

Citing "macroeconomic conditions," Bank of America (BAC | Quote | Chart | News | PowerRating) lowered its price target for shares of Amazon.com (AMZN | Quote | Chart | News | PowerRating) on Thursday. After moving lower, AMZN rallied to close higher by more than 3%.

Steve Ballmer, CEO of Microsoft (MSFT | Quote | Chart | News | PowerRating) said on Thursday that a deal to acquire Yahoo! (YHOO | Quote | Chart | News | PowerRating) still may make "economic sense." Shares of Yahoo were up by more than 10% on the day.

Reporting earnings before the bell Friday morning, Schlumberger (SLB | Quote | Chart | News | PowerRating) is expected to report earnings per share of 1.25.

Merrill Lynch (MER | Quote | Chart | News | PowerRating) upgraded Archer Daniels Midland (ADM | Quote | Chart | News | PowerRating) from "hold" to "buy", citing the company's increased cash flow due to the pullback in commodity prices.