By far the largest block of survey votes pinned an acceptable “buy” BP value at $25, with 28% of survey respondents saying that if BP hit that mark, it would signal the time to place a long bet.

Many potential BP buyers, has even lower expectations for the stock. Approximately 17% of survey respondents said they would buy BP at $20. Another 19% of survey takers indicated that BP shares would have to dip below $20 before they became interested in the stock.

Lurking beneath all of the reluctance to step up and take a bet on BP is the view demonstrated by 17% of survey takers: hurricane fears might be overblown, these votes said, but when it comes to BP, hurricanes or no hurricanes, the stock is ultimately headed for bankruptcy.

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Altira has excellent cash flow, and is the ultimate recession proof stock. During a recession, I am looking for a company that is going to maintain if not grow its earnings and provide a nice dividend. Altria does that. At its current price it has an over 8% yield, putting a good amount of cash into your pocket ever quarter. I say Altria is a recession proof stock because their business, cigarettes and beer, is one thing Americans won’t cut down on when they are trying to cutback spending. If anything, people will become stressed out and smoke more. SABMiller has many cheap beers that are still selling in a tough economic time. People won’t cut back on beer, they might cut back on expensive beer and buy cheaper ones, which SABMiller offers.

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The Dow, which finished the day after adding 70 points, or 0.6%, to 10,997, crossed the 11,000-point threshold near the closing bell for the first time since September 2008. The S&P 500 improved 8 points, or 0.7%, to 1194, while the Nasdaq went ahead by 17 points, or 0.7%, at 2454.

The tech-heavy Nasdaq also led the other major averages for the week, adding 2.1%. The S&P gained 1.4% since last Thursday’s close, while the Dow picked up 0.6%.

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Net revenues were $5.6 billion and fair value gains were $823 million, Fannie Mae said in a regulatory filing.

The mortgage entity said the $12.5 billion increase in net loss in the period was driven by a $13.4 billion increase in credit-related expenses, which “more than offset a $1.7 billion increase in net interest income.”

The results were “adversely affected by the ongoing deterioration in the housing and mortgage markets, the economic recession and rising unemployment,” Fannie Mae said.

Fannie Mae said its request submitted Thursday for an additional $10.7 billion in aid follows a $19 billion infusion from Treasury in June, and a $15.2 billion infusion in March.

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Stocks got a boost from Intel Corp., the chipmaking giant. The company reported better-than-expected results, though sales still fell sharply from the year-ago quarter and Intel reported a net loss.

In early action, Sprint climbed 3%, while Motorola  and Nokia each gained 4%.

AT&T Inc. and Verizon Communications Inc. also rose about 1% each.

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The world’s second-largest home-improvement retailer after Home Depot Inc. ( HD) nevertheless raised its fiscal-year earnings view but narrowed its outlook for revenue.

The company now expects fiscal-year earnings of $1.13 to $1.25 a share, up from February’s reduced estimate of $1.04 to $1.20. It now forecasts revenue ranging from down 2% to up 1% compared to February’s view of down 2% to up 2%. It still expects same-store sales in a range of down 4% to 8%.

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The numbers: Fiscal second-quarter revenue declined 20% to $938 million as net income and earnings per share surged 183% to $36 million and 83 cents, respectively. The debt-to-equity ratio remained low at 0.63, but a quick ratio of 0.43 indicates a weak cash position. Margins improved significantly, with the operating margin climbing 443 basis points to 6.2% and the net margin jumping 272 basis points to 3.8%.

The stock: New Jersey Resources has fallen 6% in 2009, in line with the performance of the Dow Jones Industrial Average. The stock trades at a price-to-earnings ratio of 13 and offers an attractive 3.4% dividend yield.

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Large- and midcap offerings followed with their own strong showings.

Large-cap funds collectively added 16.2%, with large-blend and large-value each up 16.4% and large-growth up 15.6%. Among the top performers were the hardest-hit funds of 2008, such as Vanguard Capital Value Fund /quotes/comstock/10r!vcvlx (VCVLX 6.62, -0.18, -2.65%) , up 39.1%, Yacktman Focused Fund /quotes/comstock/10r!yaffx (YAFFX 12.59, -0.36, -2.78%) , up 36.9%, Legg Mason Value Trust /quotes/comstock/10r!lmvtx (LMVTX 28.64, -1.05, -3.54%) , gaining 29.4%, and Longleaf Partners Fund /quotes/comstock/10r!llpfx (LLPFX 18.90, -0.52, -2.68%) , rising 26.6%.

Midcap funds averaged an 18.4% gain, with midcap-blend up 19.5%, midcap-value adding 18.9% and midcap-growth up 17%. Notables in these categories included a 41.9% gain for Kinetics Small Cap Opportunities Fund /quotes/comstock/10r!kscox (KSCOX 17.31, -0.29, -1.65%) and a 38.1% advance for Fidelity Leveraged Company Stock /quotes/comstock/10r!flvcx (FLVCX 17.14, -0.56, -3.16%) .

The biggest U.S. stock funds, meanwhile, matched the market’s faster pace — and at times outran it.

Dodge & Cox Stock Fund /quotes/comstock/10r!dodgx (DODGX 74.63, -2.68, -3.47%) soared 23.1%, well ahead of the 16.4% average gain for its large-cap value peers. American Funds’ Growth Fund of America /quotes/comstock/10r!agthx (AGTHX 22.49, -0.57, -2.47%) rose 16.7% and Fidelity Growth Company Fund /quotes/comstock/10r!fdgrx (FDGRX 53.82, -1.53, -2.76%) added 15.9% — slightly better than their large-cap growth category’s 15.6% return.

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Apollo Group Inc. (APOL 69.35, +3.36, +5.09%) said that its fiscal third-quarter profit rose to $201.1 million, or $1.26 a share, from $139.1 million, or 85 cents a share, in the year-ago period. Revenue increased to $1.05 billion from $835.2 million last year. Analysts surveyed by FactSet Research estimated a quarterly profit of $1.12 a share on revenue of $1.04 billion.

Dell Inc. (DELL 13.87, +0.01, +0.07%) is reportedly developing a pocket-sized electronic device for accessing the Internet. The Wall Street Journal said that Dell is creating the device to run on Google Inc.’s Android software, which is currently used by T-Mobile in mobile phones and is expected to become widely deployed in other devices. The Dell device is said to be slightly larger that Apple Inc.’s /quotes/comstock/15*!aapl/quotes/nls/aapl (AAPL 141.90, -0.07, -0.05%) iPod touch and could go on sale in the second half of the year.

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Shaw Communications (SJR 16.97, +0.31, +1.86%) is forecast to post earnings of 26 cents a share in the fiscal third quarter, according to analysts surveyed by FactSet Research.

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