7 Stocks you need to know for Friday

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 (ANF | Quote | Chart | News | PowerRating) 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 (PEP | Quote | Chart | News | PowerRating), 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 (CAKE | Quote | Chart | News | PowerRating) which announced EPS of 15 cents, beating analyst estimates by a penny.

Wells Fargo (WFC | Quote | Chart | News | PowerRating) 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 (DOW | Quote | Chart | News | PowerRating) announced that it was cutting its dividend for the first time in more than 90 years.

What stocks were advancing on Thursday? Coca Cola (KO | Quote | Chart | News | PowerRating) 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 (VLO | Quote | Chart | News | PowerRating), which had its target price raised by Goldman Sachs to $25 from $18.