Prep Your Portfolio For Next Week: Strategists
Stocks tumbled Friday, with the Dow falling more than 2 percent. Which stocks should you be buying and selling into next week? Danielle Hughes, founder and chief executive of Divine Capital, and Charlie Smith, chief investment officer of Fort Pitt Capital Group, discussed their best plays.
BuyAmgen—“With the ASCO (American Society of Clinical Oncology) meeting in Chicago this week, there should be some positive news on a few of their products,” Smith told CNBC.
SellToll Brothers —“We think on the high end of the housing market, pricing is going to be tough for at least the next several years,” he explained. “The low end has recovered due to subsidy, but pricing trends for most of the major markets in the high end is terrible.”
Avoid infrastructure plays—“With BP down more than 20 percent this week and Transocean down 25 percent, we’re looking at infrastructure plays as a big no-no. Not only because of the oil spill, but because of the regulatory environment that we’re facing now,” said Hughes.
Instead, Hughes likes Itron , Enernoc and Nalco .
Scorecard — What They Said:
- Hughes' Previous Appearance on CNBC (Aug. 11, 2009)
- Smith's Previous Appearance on CNBC (May 12, 2010)
More Stock Advice — Read and Decide:
CNBC Data Pages:
No immediate information was available for Hughes or Smith.