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Stock picks by the pros
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March 8, 2001: 12:29 p.m. ET
Amazon, Yahoo!, Home Depot, Amgen and Nokia make the short list
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NEW YORK (CNNfn) - Amazon, Yahoo!, Home Depot, Amgen and Nokia were a few names sounded by money managers and market strategists on CNNfn.
Here are some of their comments on the stocks.
David Brady, portfolio manager for Stein Roe Funds, said Yahoo!'s bombshell is just another indication of weak dot.com advertising.
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 Michael Carty of New Millennium Advisors lists some of his favorite stocks on CNNfn's "Before Hours." |
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"All companies involved that rely on dot.com revenues or online revenues, ad revenues are going to have some exposure to this news," said Brady. "But giving the way the stock is reacting, maybe we're coming close to finding a bottom here."
In the technology sector, Brady said Nokia has good fundamentals, so he's inclined to hold onto Nokia.
He also said Amgen is a terrific company and clearly a leader in the biotechnology industry.
"It has revenues and profits and a very strong pipeline," said Brady.
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 BRADY'S STOCK PICKS
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Nokia (NOK)
Amgen (AMGN)
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Shares of Nokia (NOK: Research, Estimates) dipped 50 cents to $25. The stock has been trading between $62.50 and $20.55 in the past year.
Amgen (AMGN: Research, Estimates) stock fell $2.69 to $68.50 with a 52-week high of $80.43 and a 52-week low of $50.
Marc Klee, technology strategist at John Hancock Technology Fund, said Amazon.com is a stock he hasn't owned since the stock went public, but last week he actually stepped up and purchased a few shares.
He said when Yahoo! settles down, it may be worth owning too.
"Surprisingly I'm actually starting to pick at that area for the first time in a long time," said Klee.
Shares of Amazon (AMZN: Research, Estimates) were down 38 cents at $11.88 at midday Thursday. The stock has been trading in a 52-week range of $75.25 and $9.59.
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KLEE'S STOCK PICKS
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Amazon.com (AMZN)
Yahoo! (YHOO)
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Yahoo! (YHOO: Research, Estimates) shares plunged $4.25 to $16.69. The stock has been trading between $205.62 and $20.81 in the past year.
Kevin Bannon, chief investment officer at the Bank of New York, said he is not sure if a sudden upswing in the markets can be seen positive.
"A lot of the economic releases are basically suggesting that economic activity has stopped declining," said Bannon. "With interest rates coming down and the tax cut in the works, you've got to believe the economy will be expanding."
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BANNON'S STOCK PICKS
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Home Depot (HD)
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He said when tax cuts come through, people will start to spend money.
"Retailers are probably a pretty good group," said Bannon. "Something like a Home Depot for instance. I do think that in the end we're living through a temporary supply-demand imbalance of technology.
Shares of Home Depot (HD: Research, Estimates) gained $1.34 to $45.04. The stock has been trading between $70 and $34.68 in the past year. 
- compiled by Staff Writer Joseph Lee
* Disclaimer
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