Fast Money Stock Picks – July 16, 2008 – Financials, Oil and Tech

Adami:
USB – USB – Buy with a 30-handle
XOM – Exxon – Buy
COP – ConocoPhillips – Buy
SLB – Schlumberger – Buy ahead of earnings – “Final Trade”
JNJ – Johnson & Johnson – Buy
BTU – Peabody – Buy
MSFT – Microsoft – Buy with a 30-handle
GOOG – Google – Buy if it takes a hit on earnings

Najarian:
UYG – Ultra Financials ProShares – Buy if you think the financials have turned
DUG – DUG – Buy if you think oil is broken
XAL – Airlines – Buy for a trade
IBM – IBM – Buy
GOOG – Google – Buy if it takes a hit on earnings
NVS – Novartis – Buy – “Final Trade”

Macke:
USO – USO – If you trade, do it with tight stops, and get out if it dips below $105
INTC – Intel – Sell
IBM – IBM – Buy
MSFT – Microsoft – Buy – “Final Trade”

Finerman:
PG – Proctor & Gamble – Buy
MSFT – Microsoft – Buy – “Final Trade”
AXP – American Express – Buy

Steve Cortes, founder of Veracruz Research:
XLE – XLE – Short

Pops (stocks that jumped higher):
SCHW – Charles Schwab (14%) – Earnings beat Street estimates
UPS – UPS (5%) – Moved in the opposite direction of oil
TGT – Target (6%) – Macke: I’d use it as a selling opportunity
CSX – CSX Corp (6%) – Najarian: I like their pricing power
USB – US Bancorp (18%) – Finerman: I like this stock
AMZN – Amazon (7%) – Macke: It’s a cacooning play sort of, but it’s still a tough environment for retail
STJ – St. Jude Medical (7%) – Najarian: I think everything looks great for them
ODFL – Old Dominion Freight Line (24%) – Announced it will beat second quarter EPS estimates and raised its annual EPS forecast
PIR – Pier 1 Imports (21%) – A Wedbush Morgan note said customers were making small impulse buys at its stores and analysts saw ‘medium traffic’ during Pier 1 semiannual sale
ALTR – Altera (12%) – Beat, and Canaccord Adams analyst Bobby Burleson raised his price target for the stock from $18 to $20

Drops (stocks that slid lower):
CBI – Chicago Bridge & Iron Co (16%) – Adami: I’d buy this stock with a stop out below $30
GCI – Gannett Co (5%) – Finerman: I can’t believe how low this stock is