Fast Money Stock Picks – September 5, 2008 – Financials and Housing

Macke:
FNM – Fannie Mae – Sell on any rally
FRE – Freddie Mac – Sell on any rally
XLF – Financial Select Sector SPDR – Sell on any rally
SPY – SPDR – Sell on any rally
POT – Potash – Take off – Final Trade

Adami:
SLB – Schlumberger – Take a look if oil goes higher
HD – Home Depot – Buy – Final Trade

Najarian:
FTO – Frontier – Buy
TSO – Tesoro – Buy
IMCL – ImClone – Buy – Final Trade

Finerman:
MO – Altria – Buy and hold through the end of the year
IRF – International Rectifier Corporation – Buy – Final Trade

Ben Reitzes, Lehman Apple analyst:
AAPL – Apple – Buy

Pops (stocks that jumped higher):
HD – Home Depot (5%) – Adami: I think the Freddie/Fannie news should be positive for this stock
ADCT – ADC Telecommunications (3%) – Forecast 2008 sales that beat analysts’ estimates
PRU – Prudential (1%) – Barron’s recommended it as a good buy

Drops (stocks that slid lower):
GOOG – Google (7%) – Macke: They’re growth is slowing
AA – Alcoa (11%) – Najarian: The problem in commodities right now is bad
OIH – Oil Services Holdrs ETF (6%) – Finerman: I’d get long at this level
JNJ – Johnson & Johnson (2%) – Adami: I think the fundamentals are still intact
AMZN – Amazon.com (5%) – Was dragged down by both tech and retail
AMD – Advanced Micro Devices (8%) – Najarian: The whole space looks awful
HOV – Hovnanian (14%) – Finerman: They have a lot of debt
FCX – Freeport McMoRan (13%) – Adami: If the metals start to turn you might want to own this stock
SWY – Safeway (3%) – Downgraded by Morgan Stanley to “underweight”, citing high prices