As the economy teeters on the verge of recovery, Bob Phillips of Spectrum Management Group and Peter Costa of Empire Executions shared their stock picks for the upcoming week.
Phillips Likes:
IBM — IBM is a "safe stock" that offers "great leverage on a global turnaround," Phillips said. Its 2008 margins were higher than they had been since 1992, and they're looking even better this year.
Enerplus Resources Fund — Enerplus is one of the largest Canadian energy trusts and offers a dividend yield of about 9 percent.
Dolby Labs
Costa Likes:
Scripps Networks Interactive
iShares Emerging Markets Fund — "If you buy into that global recovery, this is a very, very good, very diversified portfolio," Costa said. "I think there's a lot of room on the upside."
Still, Costa said that while the market has had a great move, he is starting to turn bearish.
"I'm not sold on this increase in the market for the rest of the year," he said. "I think we'll probably end up right where we are."
Counterpoint:
- Markets Are Only Halfway Through Rebound: Barton Biggs
- Stronger Earnings Will Send Markets Higher: Strategist
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Disclosures:
Phillips and his company own shares of the stocks he mentioned.
Costa does not own any shares of the companies he recommended.
