Fast Money Stock Picks – August 29, 2008 – Financials and Tech

Finerman:
IYR – iShares Dow Jones US Real Estate – Short
BBT – BB&T – Short
GLNG – Golar LNG – Buy – “Final Trade”

Najarian:
RIMM – Research In Motion – Buy and hold
PALM – Palm – Watch
WFC – Wells Fargo – Buy – “Final Trade”

Terranova:
RIMM – Research In Motion – Buy around $115 and hold
EXM – Excel Maritime – Buy – “Final Trade”

Addison Armstrong, Tradition Energy director of market research:
OIH – Oil Services HLDRS – Buy if Hurricane Hannah starts to head into the Gulf of Mexico

Zach Karabell:
GLD – Gold ETF – Buy – “Final Trade”

Morgan Stanley analysts:
*Avoid most industrial stocks, including the following:
CAT – Caterpillar
EMR – Emerson
HON – Honeywell
UTX – United Tech

Pops (stocks that jumped higher):
AIG – AIG (8%) – Strong GDP numbers lifted all the financials
UNP – Union Pacific (5%) – Rising coal futures, more coal transported
MBI – MBIA Inc (59%) – Finerman: Too volatile for me
AMD – Advanced Micro Devices (9%) – Broadcom agreed to but a unit of the company for $192.8 million
JRJC – China Finance Online (8%) – Karabell: I’m not excited about this stock
PETM – PetSmart (7%) – Finerman: I’m not so sure about this stock
LFC – China Life (8%) – Karabell: It’s interesting
SUN – Sunoco (12%) – Terranova: I think it could be a buy

Drops (stocks that slid lower):
NOK – Nokia (4%) – Samsung announced a gloomy holiday season outlook and dragged down rivals
AMLN – Amylin (17%) – Terranova: I’d own it for the long term
CME – CME Group (6%) – Terranova: I’d get long with a $400 stop
FUJI – Fujifilm (11%) – UBS cut its rating from “Buy” to “Neutral” after the company lowered its outlook