America's Favorite - Google

Just as the railroad was the engine of the American economy 100 years ago, technology might be the same kind of economic driver today. Taking that analogy one step farther, you could say the search engine has become the modern equivalent of the steam engine.

And no company holds more influence over search than Google which releases quarterly earnings on Thursday after the bell. Both Main Street and Wall Street will be sifting through the numbers carefully not only to learn about Google’s health, but the overall health of the sector.

Google has lost 23% this year. What can you expect?

”I’m looking for a good quarter out of Google,” says Lehman Brothers analyst Doug Anmuth on Fast Money.

“I think they’re going to show strong results on the search side and then I think they’re going to show stabilization in revenue and paid clicks. Those two things are the metrics to look for.”

Anmuth is fairly bullish on Google, what some investors affectionately call America's favortie stock.

”The key is that their business is diversified and they continue to innovate so I think they’re going to show growth, he says. “I like Google for both the short-term and the long term.”

Both Guy Adami and Pete Najarian are more cautious. They only recommend getting long Google, if the stock takes a hit on eanrings. And valuations are too rich for Karen Finerman.

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Trader disclosure: On July 16, 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 (GS), (MSFT), (USO), (WMT); Adami Owns (C), (AGU), (GS), (INTC), (NUE), (BTU), (MSFT); Najarian Owns (AAPL), (NOK), (TSO), (XLF), (GS); Najarian Owns (ANR) Puts; Najarian Owns (CSCO) Calls, (PRU) Calls, (SLB) Calls, (UYG) Calls, (YHOO) Calls; (WLT) Calls; Finerman Owns (GS); Finerman's Firm Owns (MSFT), (NOK), (SUN), (TSO), (TWX), (VLO), (AXP), (M); Finerman's Firm Owns (TGT) Calls; Finerman's Firm And Finerman Own (C) And (C) Leaps; Finerman's Firm Is Long SPX Index Puts; Finerman's Firm Is Short (IJR), (MDY), (SPY), (IWM)

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Lehman Brothers Has Received Non-Investment Banking Compensation From (GOOG) Within Last 12 Months; (GOOG) Is Or During Last 12 Months Has Been A Non-Investment Banking Client (Securities Related Services) Of Lehman Brothers