7 Stocks You Need to Know for Monday

Stocks tumbled on Friday after American International Group reported its biggest loss ever, sending shock waves through the market and causing widespread selling of financial stocks.

The Dow lost -315.79, the Nasdaq Composite -60.09 and the S&P 500 lost -37.05.

American International Group's (NYSE:AIG) record $5.29 billion loss led to widespread selling on Friday. AIG's Short Term PowerRating is 4.

Meanwhile, a 6% decline in quarterly profit at Dell (NasdaqGS:DELL) weighed on the technology sector. DELL's Short Term PowerRating is 4.

After the market close, Berkshire Hathaway (NYSE:BRK-A) reported an 18% decline in fourth quarter profit and warned investors that "insurance-industry profit margins, including ours, will fall significantly in 2008". BRKA's Short Term PowerRating is 5.

Northrop Grumman (NYSE:NOC) won a $35 billion contract to build air refueling tankers. NOC's Short Term PowerRating is 6.

The news Northrop Grumman was a major blow to market leader Boeing (NYSE:BA). BA's Short Term PowerRating is 5.

Late on Friday, The Wall Street Journal reported that Countrywide Financial (NYSE:CFC) may be sanctioned for "alleged abuses of the bankruptcy system." CFC's Short Term PowerRating is 5.

And finally, do you think Merrill Lynch (NYSE:MER) will close up or down on Tuesday? Short Term PowerRating is 5. Play TradingMarkets Up or Down Daily Stock Contest for the chance to win $1000 every month by predicting the direction of a stock.