"A new study on stem cell research is mind-boggling," notes emerging growth expert Toby Smith in support of his recommendation for Geron Corp. (NASDAQ: GERN).

The growth stock expert and editor of ChangeWave Investing explains, "Geron reported its scientists and collaborators have demonstrated that human embryonic stem cell (hESC)-derived cardiomyocytes improve heart function when transplanted after myocardial infarction.

"Published online on Aug. 26, in Nature Biotechnology, the landmark study is the first to document the potential clinical utility of regenerating damaged heart muscle by injecting hESC-derived cardiomyocytes directly into the site of the infarct.

"In addition, the research confirms the effectiveness of a scalable production system that enables Geron to manufacture the cardiomyocytes for use in ongoing large animal studies and, ultimately, testing in humans."

"In the current volatile market, you can't go wrong by making your portfolio more defensive," says Glenn Rogers, who notes he has been "on the hunt for stocks that are fairly bulletproof."

One such stock, according to the analyst with Internet Wealth Builder, is Diageo PLC (NYSE: DEO). He says, ""London-based Diageo is the largest international manufacturer and distributor in the beverage alcohol industry, which is virtually recession-proof."

Many of its brands, he notes, will be immediately recognizable: Smirnoff, Guinness, Johnnie Walker, Captain Morgan, Jose Cuervo, Bushmills, J&B Scotch, and our own Crown Royal. In fact, he observes, 17 of the company's brands are among the top 100 premium spirit brands in the world.

Rogers explains, "Its strategy is to drive organic growth by taking leadership positions in every category in which it competes. The company also looks to exploit opportunities for growth in such key emerging markets as China, India, Russia, and Brazil."

Yesterday Google Inc. (NASDAQ: GOOG) hit an all time high -- up six-fold -- a bit under three years after its $85 IPO. The proximate cause of the latest rise is a deal with salesforce.com, Inc. (NYSE: CRM). The deal could create more opportunities for Google to connect with salesforce's 32,300 customers -- each of whom is a potential advertiser who has not previously tried running online marketing campaigns through Google's automated system

I've posted bullishly on Google for a while -- most recently on Memorial Day. That's when Steve Mandel, head of $8 billion hedge fund Lone Pine Capital, said he believes that Google's growth potential is not fully understood by investors because its core market of paid search is still in "its early innings."

Google is getting more expensive but I suspect not overvalued. I don't know Mandel's earnings forecasts for the company; however last week it traded at $497.91 a moderate PEG of 1.38 -- reflecting a P/E of 43.3 on 24 analysts' consensus 2008 earnings growth of 31.4% to $17.45. That PEG is higher now -- 1.49 reflecting a higher P/E of 46.5 on a slightly lower 24 analysts' consensus 2008 earnings growth of 31.21% to $17.43.

I think Google could hit $1,000 because of the growth potential in the company's 84 different businesses which do not yet generate revenues and revenues from future partnerships like the one with salesforce.

Do you think it's time to buy or sell Google?

Peter Cohan is President of Peter S. Cohan & Associates, a management consulting and venture capital firm. He also teaches management at Babson College and edits The Cohan Letter. He has no financial interest in the securities mentioned in this post.

Google Inc. (NASDAQ: GOOG) reported a great quarter and once again shattered analysts best guess estimates across the board. The stock market is jubilant this morning on that and other favorable earnings reports recently as the Dow Jones Industrial Average, DJIA, is up over 100 points, threatening 13,000.

Google was up yesterday in after market trading and is currently (11:30 a.m. EST) trading at $488, up 3.5% from yesterday's close.

In my post yesterday, Serious Money: You asked about Intuitive Surgical?, I blogged of my own venture into a dramatic growth stock and even went as far as to outline why Intuitive Surgical (NASDAQ: ISRG) was the superior investment compared to Google.

While Google has taken the market by storm and grabbed all the attention, ISRG is currently trading up 10.3% to $133.66 on an equally astounding earnings report, beating estimates by 9 cents per share. Both companies are charging into the future with great promise, leading their respective sectors and leaving all estimates behind in the dust. GOOG and ISRG look unstoppable at the moment, but investors should be careful with all this euphoria.

If you are not familiar with ISRG, perhaps you should take a look.

Sheldon Liber is the CEO of a small private investment company and the vice president for design and research at an architecture & planning firm. Check out his other posts for BloggingStocks here.

In his small cap growth oriented newsletter, Upside, editor Richard Moroney uses a ranking system known as Quadrix that assesses a stock based on a wide variety of fundamental, financial and technical factors.

A rarity in this system, Chaparral Steel (NASDAQ: CHAP) earns a 100 out of 100 rating. Chaparral, he notes, is the second-largest supplier of structural steel in North America.

The firm specializes in structural beams and steel bars, which are used for commercial construction. Its two minimill plants, he notes, use recycled steel that comes primarily from shredded automobiles.

Looking ahead, he says, "the company should benefit from robust demand, decent pricing, and strict cost controls." In addition, he notes that last November the company paid its first quarterly dividend, initially set at $0.10 per share.

Further, he observes, management has authorized a share-repurchase program of to $100 million. Earnings estimates for this year and next have trended higher and for fiscal 2007 ending May, he notes that consensus estimates project per-share profits will be up 50% to $4.99.

He concludes, "With the maximum overall Quadrix score of 100, Chaparral is being added to our coverage as a Buy."

For more stock picks from the leading financial newsletter advisors, visit Steven Halpern's free daily website, TheStockAdvisors.com.

Anglo American plc (ADR) (NASDAQ: AAUK) is really a United Kingdom based company with no American history, although a long history it has. We are continuing our search for value stocks as we very methodically place new money in the market. Our first purchase was an old favorite: Washington Mutual, Inc. (NYSE:WM). We recently acquired it at $40 per share after following it down from $47. Yesterday, Georges Yared posted Washington Mutual: A ridiculously cheap pick in sub-prime panic and we agree with him totally....take a look at the depressed price, the 5.3% yield and more.

We like the Anglo American company and the stock for numerous reasons. It came to our attention initially because it has a 1.17 price-to-sales ratio (P/S), a price-to-book ratio of 1.29 (P/B), and a yield over 2%. To go along with those metrics it has been growing at 15% to 20% over the last few years as the world demand for gold and platinum has increased. You can check out the fundamentals at AOL Money & Finance as a starting point for your own research if you are interested.

When looking for growth, Richard Moroney, editor of Dow Theory Forecast, notes that he avoids speculative and expensive "hypergrowth" stories and prefers to focus on steady growers with reasonable valuations and the ability to exceed expectations."

Among his current favorite growth ideas is Nike Inc. (NYSE:NKE). He explains, "The company hopes to increase its annual sales to $23 billion by fiscal 2011 ending May, up from $15 billion in fiscal 2006, as part of a five-year growth strategy announced in February."

He notes that the firm's plans include expanding its retail presence with the addition of 100 new company stores worldwide over the next three years, half in the U.S.

In addition, the company is expected to divide the Nike brand into six categories -- soccer, basketball, running, men's training, women's fitness, and sports culture -- to better target consumers. Moroney says, "Management expects to reach its sales growth target without the help of new acquisitions."

Google, Inc. (NASDAQ:GOOG) is up about 20% in the last six weeks, closing Wednesday at $467.50, which is wonderful for the faithful believers who seem to be in the majority. It has gone beyond any projection I could support having passed my top side 12-month value target of $440.00 after only four months. Seems it has gotten ahead of itself again by my reckoning, so I will have to let this one go.

All the excitement created by Google's very positive earnings report followed by numerous upgrades including James Cramer projecting a 12-month target of $560.00 per share still seems too volatile. This is not the next big thing, it is THE CURRENT THING.

While this GOOG euphoria has captured the imaginations and headlines, it is not the only success story. My last stock buy has also gone up just as much without all the fanfare over the same six week period.