CNBC's Top Stocks To Watch On Friday

Investors are hoping Friday's trading session closes on a high note as earnings season is just beginning. But what stocks should investors be keeping a closer eye on?

CNBC compiled a brief list of stocks making headlines and why they will be in focus throughout the day.

Top on CNBC's list is Citigroup Inc C after the company reported it earned $1.24 per share in the second quarter on revenue of $17.5 billion, which exceeded analysts expectations of $1.10 per share on revenue of $17.46 billion.

Citigroup also committed towards buying back 30 million common shares of its own stock.

Wells Fargo & Co WFC matched analyst expectations when it reported an earnings per share of $1.01 in its second quarter, but revenue of $22.16 billion fell slightly short of the $22.17 billion analysts were expecting.

Xerox Corp XRX is on CNBC's radar after the company rejected a proposed merger with RR Donnelley & Sons Co RRD. Xerox is expected to proceed with its plans to split itself into two separate companies.

Finally, CNBC suggested investors pay attention to shares of Line Corp (ADR) LN on its second day of trading. The maker of a messaging app saw its shares soar during its trading session in Tokyo.