7 Stocks you need to know for Friday

The Dow gained 46.43. The Nasdaq Composite ended the day up 25.02. And the S&P 500 added 9.15.

Here are 7 Stocks You Need to Know for Friday.

A report that American International Group (AIG | Quote | Chart | News | PowerRating) would be spinning off its Asian insurance unit in an initial public offering (IPO) sent the stock soaring by more than 11%.

Announcing quarterly earnings before the bell on Friday, retailer Abercrombie & Fitch (ANF | Quote | Chart | News | PowerRating) is expected to announce an EPS loss of 12 cents.

Also scheduled to report earnings before the markets open Friday morning is AngloGold Ashanti Ltd. (AU | Quote | Chart | News | PowerRating). The gold mining company is expected to report per share earnings of 43 cents.

In Wednesday's TradingMarkets 7 Stocks You Need to Know, we noted the oversold condition in Ford Motor Company (F | Quote | Chart | News | PowerRating), which reached oversold extremes after plunging more than 10%. Finishing the Wednesday in the green, the stock was up more than 6% intraday on Thursday.

Flat earnings encouraged traders and investors to sell shares of Wal-Mart (WMT | Quote | Chart | News | PowerRating) on Thursday. The stock is again oversold below the 200-day moving average.

After closing lower for six out of the past seven sessions, Intel Corporation (INTC | Quote | Chart | News | PowerRating) rallied by more than 3% intraday. Intel's trading over the past week and a half is indicative of the selling that has characterized technology stocks. IBM (IBM | Quote | Chart | News | PowerRating), for its part, continued to pull back above its 200-day moving average.