Fast Money Stock Picks – September 8, 2008 – Fannie Mae and Freddie Mac Bailout

Najarian:
MS – Morgan Stanley – Buy
*If you get 5% to 10% profits in homebuilding, take profits
RIMM – Research In Motion – Buy puts and sell an upside call
*Watch the airlines
NVO – Novo Nordisk – Buy – Final Trade

Adami:
CHD – Church & Dwight – Buy
JNJ – Johnson & Johnson – Buy
HD – Home Depot – Buy
RIMM – Research In Motion – Be careful
GPS – Gap – Buy
URBN – Urban Outfitters – Buy – Final Trade

Macke:
XHB – Homebuilders ETF – Take profits
RIMM – Research In Motion – Buy if it hits $100, with a tight stop at $95 – Final Trade

Finerman:
*Sell retail stocks
GOOG – Google – Buy
GM – General Motors – Sell
FLS – Flowserve – Buy – Final Trade

Ben Reitzes, Lehman Apple analyst:
AAPL – Apple – Own through the years end

Pops (stocks that jumped higher):
C – Citigroup (6%) – Adami: I think it could pop for another day or two
DIS – Disney (5%) – Macke: I’m long
NVO – Novo Nordisk (3%) – Reported that a phase 3 clinical study of a new diabetes drug showed positive results

Drops (stocks that slid lower):
UAUA – United Airlines (11%) – Finerman: I’d stay away
X – U.S. Steel (5%) – Slower demand
London Stock Exchange – Halted trading for 7 hours Monday after a computer glitch prevented orders from being placed
ORCL – Oracle (4%) – Adami: Looks interesting on a valuation basis
GOOG – Google (5%) – The Association of National Advertisers rejected a proposed Internet search ad partnership between Yahoo and Google
HUN – Huntsman Corp (12%) – Financial advisors said its buyout by Hexion Specialty Chemicals could result in an insolvent company
YRCW – YRC Worldwide (7%) – Expects a loss in its third quarter due to low levels of shipments ahead of the holiday season
NOK – Nokia (4%) – Deutsche Bank cut it from “Buy” to “Hold” after Nokia warned that it would lose market share
SOV – Sovereign Bancorp (7%) – Holds $623 million worth of stock in Fannie and Freddie and now faces eliminated dividends
SNDK – Sandisk Corp (6%) – UBS cut its earnings estimates, citing an oversupply of flash memory