7 Stocks you need to know for Friday

Stocks soared today on the back of a positively strong T-Bill auction and climbing retail shares. The DJIA advanced 172.54, the Nasdaq jumped 37.20 and the broad based S&P 500 added 19.32.

Ben Bernanke launched a strong defense of his actions during the Bank of America (BAC | Quote | Chart | News | PowerRating)/Merrill Lynch merger Several lawmakers accused the Fed Chief of strong arming management.

The smart phone originator and maker, Palm (PALM | Quote | Chart | News | PowerRating), announced a steep drop in sales for the fiscal fourth quarter.

Changes in the Health Care Reform Bill lifted health care stocks with CIGNA (CI | Quote | Chart | News | PowerRating) and Coventry (CVH | Quote | Chart | News | PowerRating) up nicely.

KB Home (KBH | Quote | Chart | News | PowerRating) announces their earnings before the bell on Friday with an expected loss of 67 cents.

Deere & Co (DE | Quote | Chart | News | PowerRating) was upgraded to neutral from sell by Goldman Sachs (GS | Quote | Chart | News | PowerRating).