NEW YORK ( TheStreet) -- If the market goes down, what stocks should you buy? TheStreet's Gregg Greenberg discussed this with Matt Schreiber, president of WBI Funds, on Wednesday.
Schreiber expects to see a pullback in equities at some time in the next couple of months. Generally stocks pull back roughly 10% each year, he said. May's market action showed signs of potential weakness ahead for the summer months.
Earnings per share increased 67% over the past 12 months, while revenues are up 20%. With a 2.7% dividend yield, he feels as though the valuation is fair for buyers.Despite Foot Locker's (FL - Get Report) underwhelming year-to-date performance, Schreiber stresses the valuation is low and the fundamentals are strong. With double-digit earnings growth and the upcoming back-to-school season only a few months away, he believes Foot Locker could have a strong finish to 2013. Finally, there's Digital Realty Trust (DLR - Get Report), which is at the lower end of its 52-week range. While the stock has seen a lot of challenges from competitors and real estate investment trusts in general have struggled lately, Schreiber really likes the fundamentals of the company, citing its "phenomenal" earnings and revenue. -- Written by Bret Kenwell in Petoskey, Mich. Follow @traderboy23