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A one-day sell-off was all it took to bring buyers back into the market. Additional end of week buying will likely push many stocks into overbought territory both above and below the 200-day moving average.
The Dow ended the day up 103.78. The Nasdaq Composite finished higher by 20.71. And the S&P 500 gained 13.77.
Here are 7 Stocks You Need to Know for Friday.
Reporting quarterly earnings after the bell on Thursday, Dell (DELL | Quote | Chart | News | PowerRating) beat analyst estimates by a penny. Sales were a bit below expectations. The stock had been trending higher over the course of trading on Thursday, up more than 2% and increasingly overbought below its 200-day moving average.
Microsoft (MSFT | Quote | Chart | News | PowerRating) CEO Steve Ballmer introduced a new search engine called "Bing," which is part of the software giant's attempt to take on Google (GOOG | Quote | Chart | News | PowerRating) in the online space. "Bing" will be available on June 3. Shares of Microsoft were higher on Thursday and are again overbought below their 200-day moving average. Google, trading above its 200-day moving average, was up more than 1% on the day.
Tiffany's & Co. (TIF | Quote | Chart | News | PowerRating) is expected to announce quarterly per share earnings of 0.19 when it reports Friday morning before the market opens. Trading wide and loose on Thursday, the stock settled in neutral territory above its 200-day moving average, down moderately on the day.
Also reporting quarterly earnings before the bell on Friday is the Royal Bank of Canada (RY | Quote | Chart | News | PowerRating). Analysts are expecting per share earnings of 80 cents from the financial company, which traded higher on Thursday by more than 3%.
A new offer from General Motors (GM | Quote | Chart | News | PowerRating) bondholders won't prevent the automaker's bankruptcy. But the deal will allow GM to participate in preferred government-sponsored restructuring.
Time Warner (TWX | Quote | Chart | News | PowerRating) gained more than 3% on Thursday as traders cheered news that the media company would be spinning off AOL near the end of 2009.
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