Cherry Picking The Diamonds From The Stock Market

what are some undervalued stocks to invest in right now?

I've been looking at SBUX, FBN, CPWM, and COLY. I could use some opinions on these choices.

SBUX – company is still growing, but the growth rate has been slowing over the past couple of years. The stock's price has declined pretty significantly over the past 6 months, but it's still got fairly high PE and PEG ratios. I think it's still a bit expensive.

FBN – the stock's price has been trending downward for most of the three years and the CEO's retiring. They've got well known brand names, but the stock needs a catalyst to get it moving in the right direction. I'd wait until I saw some sustained upward movement before putting money into it.

CPWM – the stock's 5 year chart is UGLY and the company is losing money. Not where I'd like to be.

COLY – It's a biomed company that's losing money, the stock's declined for two years, and it lost 60% today on some bad news about one of its most promising drugs! It's a definite gamble.