Fortune Telling: Stock Picks For 2008


The market outlook may not be brilliant for the year ahead, and that makes selections of favored stocks especially interesting to watch.

"We went into this looking for stocks that didn't need a rising economic tide to do well in 2008," Fortune Magazine writer Jon Birger told CNBC.

Near the top of Fortune's list this year is video-game maker Electronic Arts


"It's a bit of a turnaround story," Birger said, citing "two key acquisitions in the role-playing game space and the adventure game space."

The list even includes land in Florida -- specifically in top landholder St. Joe.

"The stock has been crushed," he said. "We have no idea when the Florida real-estate market will bounce back -- but I do know it will bounce back."

Fortune also likes Dick's Sporting Goods. Birger believes there's a lot of room for the company to grow.

"They're strong in the Northeast, they're strong in the Midwest, but they have a pretty small presence in the Southeast and the West," he said.

Genentechmakes the list on the potential strength of its drug Avastin.

"The potential for Avastin to gain market share in the breast cancer market is huge," he said.

From the much-maligned financial sector, Fortune picked Merrill Lynch.

"I can't imagine that John Thain would have taken that job if the problems were worse than people believe," Birger told CNBC.


Also on the list are Berkshire Hathaway, Annaly Capital Management, Brazil's Petrobras, Jacobs Engineering, and parent General Electric.