STOCK PICKS: Top 5 Large-Caps for July 23

Each business day, TheStreet.com Ratings compiles a list of the top five stocks in five categories -- fast-growth, all-around value, large-cap, mid-cap and small-cap -- and publishes these lists in the Ratings section of our Web site.

This list is based on data from the close of the previous trading session. Today, large-cap stocks are in the spotlight. These are stocks of companies with market capitalizations of over $10 billion that rank near the top of all stocks rated by our proprietary quantitative model, which looks at more than 62 factors. In addition, the stocks must be followed by at least one financial analyst who posts estimates on the Institutional Brokers' Estimate System. The stocks are ordered by their potential to appreciate.

Note that no provision is made for off-balance-sheet assets such as unrealized appreciation/depreciation of investments, market value of real estate or contingent liabilities that might affect book value. This could be material for some companies with large underfunded pension plans.

Smith International(SII Quote - Cramer on SII - Stock Picks) is a worldwide supplier of products and services to the oil and gas exploration and production industry, the petrochemical industry and other industrial markets.

We have rated Smith a buy since May 2006. Various strengths, such as growth in net income and revenue, contributed to this rating. For the first quarter of fiscal 2008, the company's earnings grew 9.3% year over year, propelled by improved earnings from the Oilfield segment. Net income was $174.99 million, or 87 cents per share, compared with $160.16 million, or 80 cents per share, in the first quarter of fiscal 2007. Revenue for the first quarter grew 12.5% year over year to $2.37 billion due to a rise in the Oilfield segment's business volumes. A quarterly dividend of 12 cents per share was paid in April 2008, representing a 20% increase in Smith's quarterly dividend.

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