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Stock picks by the pros
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March 31, 2000: 1:52 p.m. ET
Halliburton, Intel, Nokia, Global Marine, and Ensco are among the top picks
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NEW YORK (CNNfn) - Techs and oil services stocks garnered top mention among money managers and analysts Friday, while a handful of "old economy" stocks won praise as they made plans to participate in online B2B initiatives.
Here are some comments on the stocks that recent guests on CNNfn are
buying, and why.
 "We actually moved from a buy to a hold on Intel (INTC: Research, Estimates) and Cisco (CSCO: Research, Estimates) last Friday," said Larry Seibert, portfolio manager, Barrett Associates. "And we've moved, now, back to those names, as market volatility and price changes created buying opportunities. We're buying those again. We're buying Microsoft (MSFT: Research, Estimates) at present. We think it's at a pretty reasonable price to pay.
"We also like Nokia (NOK: Research, Estimates)," Siebert said. "We've been buying that for the last couple of weeks. We find that is a good value, although it is an expensive stock by some measures. We compare P/E to growth to try to determine an appropriate price at which to buy the stocks. Cisco, for example, which some would consider a very expensive stock, is growing at 45 percent and it's trading at less than 90 times next year's earnings - we would consider that a buying opportunity."
 Unlike some who've slammed "old economy" stocks, David Garrity, global research coordinator, Dresdner Kleinwort Benson, sees opportunities in store for industrial behemoths - in the new economy. Scores of old line companies are announcing new initiatives, and making the move to online B2B. "Look at companies like Boeing (BA: Research, Estimates), BEA Systems (BEAS: Research, Estimates), GM (GM: Research, Estimates), Ford (F: Research, Estimates), or DaimlerChrysler (DCX: Research, Estimates). In these cases, you're seeing anywhere between, say, roughly 55 percent of a global industry to 30 percent of a global industry being represented. And what's happening, as a result of aggregating their volumes, [is] they are giving themselves the opportunity to substantially reduce costs and also improve productivity up and down the supply chain."
"It's not only the companies themselves that benefit from lower costs," said Garrity. "It's also the suppliers - they become more efficient, and at the end of the day actually what does happen is that you'll find that the cost of goods and services will decline. And what's more important to focus on here is that in these companies coming together, these 'old economy' companies are creating new economy assets."
 "Investors," said Ron Hill, equity strategist, Brown Brothers Harriman, "need to try to balance their tech stock holdings with stuff that does well when tech doesn't, and the most obvious example is energy; it has the least correlation, overall, to technology, and so these stocks have been doing relatively better, as techs sold off. And with oil prices seemingly stabilizing somewhere between $20-to-25 a barrel, drillers like Global Marine (GLM: Research, Estimates), Ensco (ESV: Research, Estimates) and Transocean (RIG: Research, Estimates) are the kinds of companies that should do very well because now budgets are pretty well set - these guys will do well. Two auxiliary plays are Schlumberger (SLB: Research, Estimates) and Halliburton (HAL: Research, Estimates)."
'Pros' bonus: Hear Ron Hill, equity strategist, Brown Brothers Harriman, on Global Marine (GLM: Research, Estimates). Select: [191KB WAV] or [191KB AIFF].
 "We have two buckets of focus," said Brian Salerno, manager, Munder Capital Future Technology Fund. "Our first focus is on the leaders of today. These are the solid technology leaders that have visibility, that have very strong earnings, and dominant market share positions - companies like Oracle (ORCL: Research, Estimates) and Cisco (CSCO: Research, Estimates) and EMC (EMC: Research, Estimates) and Intel (INTC: Research, Estimates), and we surround those holdings with companies which we believe will be the future leaders. They'll be at an earlier stage, companies like Web Methods (WEBM: Research, Estimates), companies that we think have excellent earnings growth prospects, a few years out."
'Pros' bonus: Brian Salerno, manager, Munder Capital Future Technology Fund, comments on NEXTLINK (NXLK: Research, Estimates). Select: [285KB WAV] or [285KB AIFF].
The views presented here are solely those of the analysts quoted. They do not represent the opinions of CNNfn on whether to buy or sell shares of a particular stock. 
--compiled by Tatiana D. Helenius
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