7 Stocks you need to know for Wednesday

The Dow soared 359.61. The Nasdaq Composite gained 81.55. And the S&P 500 closed higher by 44.61.

Here are 7 Stocks You Need to Know for Wednesday.

Goldman Sachs (GS | Quote | Chart | News | PowerRating) reported its first quarterly loss since going public in 1999. Traders shrugged off the news, however, sending the stock higher even before the FOMC-induced rally later in the day.

Announcing their quarterly earnings after the market closed on Tuesday, Adobe Systems (ADBE | Quote | Chart | News | PowerRating) beat analyst estimates by two cents.

Baidu.com (BIDU | Quote | Chart | News | PowerRating), the most popular Chinese search engine was upgraded from "neutral" to "conviction buy" by Goldman Sachs on Tuesday.

Nike (NKE | Quote | Chart | News | PowerRating) reports earnings Wednesday after the market closes. Analysts are expecting EPS of 78 cents.

Also reporting quarterly earnings on Wednesday are General Mills (GIS | Quote | Chart | News | PowerRating) and ConAgra (CAG | Quote | Chart | News | PowerRating). General Mills is expecting to report EPS of 1.23, while ConAgra is expected to announce earnings per share of 0.37.

Morgan Stanley (MS | Quote | Chart | News | PowerRating) reports quarterly earnings Wednesday morning before the market opens. Analysts are expecting an earnings per share loss of 34 cents.