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Analyst Watch: Buy These Stocks Into Market Weakness

US stock index futures pointed to a lower start on Friday as investors stayed cautious ahead of U.S. GDP data.

U.S. economic growth likely slowed in the second quarter as a capital investment drive by businesses was sated by imports and consumer spending tapered off, a government report is expected to show.

Here's what guests on today's Squawk on the Street are watching before the opening bell:

Buying Into Weakness

"Last month we were buying into the double dip talk, but as valuations have moved up here we have become less bullish," says Alan Lancz, president of Alan B. Lancz and Associates, and the editor of the Lancz Letter.

Companies he would still buy, particularly into weakness include:

Tupperware Brands
With 86 percent of revenues abroad with the majority of those from faster growing emerging markets, Tupperware won't be negatively influenced by a U.S. slowdown, Lancz says. Good dividends growth,improving balance sheet and a cheap way to participate in emerging markets, he says.

WMS Industries
This leader in gaming technology has good long term prospects with new product cycle combined with municipalities looking for new revenue sources, Lancz says. Buy into weakness in earnings/guidance next week, he advises.

H&R Block
Lancz likes it because of its nearly 4 percent dividend yield and the company is using cash flow to buyback up to 20 percent of market cap at current depressed levels.

See more of what these and other analysts and money managers have to say, and get the latest financial news. Watch Squawk on the Street every weekday morning starting at 9 a.m. ET.

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Disclosure: Company,clients and family members own all shares mentioned — no investment banking and less than 1 percent ownership.

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  • Carl Quintanilla is an Emmy-winning reporter and co-anchor of CNBC's "Squawk on the Street," broadcast live from the NYSE.

  • Simon Hobbs co-anchors the 10 a.m. hour of CNBC's "Squawk on the Street" live from the New York Stock Exchange.

  • Jim Cramer is host of CNBC's "Mad Money" and co-anchor of the 9 a.m. ET hour of CNBC's "Squawk on the Street."

  • “Squawk on the Street” Co-Anchor

  • Rick Santelli joined CNBC Business News as an on-air editor in 1999, reporting live from the floor of the Chicago Board of Trade.