Earnings Season Kicks Off
By: 
Alcoa kicks off earnings season Wednesday after the bell. Which stocks and sectors look the best?
3 Things To Watch For
- Health Care To Live Up To Defensive Role
- More Writedowns, And If They Are Priced In
- Words Will Matter More Than Numbers
Healthcare
I like Pfizer (PFE) as well as Lilly (LLY) and Biogen (BIIB) says Pete Najarian. I see value in all these companies.
Financials
I expect more write-downs adds Karen Finerman. Especially in Citigroup (C) and Merrill (MER) where the new CEOs can blame it on the last guy and start fresh.
The Earning Calls
Listen closely for guidance, says Jeff Macke. The Street already believes that earnings are going lower. Don’t let that worry you. But do pay close attention to what are they saying going forward and then ask yourself is that priced into the stock?
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Trader disclosure: On Jan 7, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (ATVI), (INTC), (YHOO); Najarian Owns (MCD), (N), (ISIS); Najarian Owns (SYY) Options, (VLO) Options, (YHOO) Options, (AAPL) Options; Finerman's Firm Owns (CROX), (GS), ( HD), (VLO), (YHOO), (DVA); Finerman's Firm Is Short (IJR), (IYR), (SPY), (IWM), (SPG), (TCO); Finerman's Firm Owns (MDY) Puts And Is Short (MDY); Finerman's Firm Owns (MSFT) Options; Finerman's Firm Owns S&P 500 Puts; Finerman's Firm Owns Russell 2000 Puts
