Earnings season kicked off this week, and the biggest companies with the most brand recognition always steal the headlines. That’s why we’re going to focus on 4 big-name companies that are up next to report earnings.

We’re going to take a look at Google Inc. (NASDAQ:GOOG), Microsoft Corp. (NASDAQ:MSFT), International Business Machines Corp. (NYSE:IBM) and Pfizer Inc. (NYSE:PFE). Are any of these big companies worth owning? Are there dangers lurking in these widely held stocks? Getting in now, or avoiding these names entirely, is key to your success this earnings season, and that’s why we’ll cover each today.

Google Inc. (NASDAQ:GOOG), Reports Earnings Thursday (7/14)

I believe cheap is a relative term. Sometimes your most profitable positions in a given year come from stocks bought at over $100 a share. So the $500+ price tag for Google Inc. (NASDAQ:GOOG) doesn’t scare me, but the fundamentals have me nervous for shareholders.

Analysts have revised estimates lower for the quarter, the company hasn’t had much success beating analyst expectations in the past, and there is not enough buying pressure behind the stock to get shares moving in a significant enough way to be worth my time.

Skip on GOOG, and if you really want exposure to Internet stocks, buy Baidu (NASDAQ:BIDU) instead. BIDU reports 7/23.

Microsoft Corp. (NASDAQ:MSFT) Reports Earnings 7/21

I don’t have much faith in Microsoft Corp. (NASDAQ:MSFT) being able to pull out a stunning earnings season either.

The stock has been trading in a tight range for the last 12 months because the company just hasn’t been able to bring something new to the table that will boost revenues or give investors a reason to get excited.

What MSFT needs to do is restructure, go on an acquisition spree or shake up the business in some way to get things moving in the right direction. Because without any buzz around the stock and with miserly sales and earnings growth, shares are dead in the water. MSFT is partnering with Baidu (NASDAQ:BIDU) to provide English search results in China. That could be big, but I think the biggest winner there will be BIDU.

My recommendation for buying the technology sector is to buy just about anything that is involved in cloud computing! Or better yet, check out my next big-name stock.

International Business Machines Corp. (NYSE:IBM) Reports Earnings Monday (7/18)

International Business Machines Corp. (NYSE:IBM) is one of the few big-name companies I think has a great shot at a strong earnings report and seeing share prices rise this quarter.

Earnings per share are expected to rise 16% this quarter, and analysts have raised their estimates a few pennies higher over the last several weeks.

And there is strong buying pressure behind the stock. Despite some of the troubles other big tech companies have had, IBM shares have climbed about 35% in the last year.

With a low PE, strong buying pressure and solid return on equity, cash flow and earnings momentum, I think smart, yet conservative, investors will do well with IBM this quarter and in the ones to come.

Pfizer Inc. (NYSE:PFE) Reports Earnings 8/2

Pfizer Inc. (NYSE:PFE) has been on the rise in the last six months–and I’m talking fundamentals and stock price. I was adamant that no one should touch this stock this time last year and throughout much of 2010. The company was going through a lot of changes, and drugs were having their FDA approval removed. It wasn’t the time to be in PFE, but recently the company and the stock have pulled together and are moving in the right direction.

The stock gets an overall B in my grading system because some fundamentals have firmed up, but others are still lagging. PFE is a stock in transition, and I would wade carefully into this one this summer. If the company reports strong earnings in August, the uptrend will continue, but even a slightly weak report could be very harmful to shareholders.

I would call this a careful buy this earnings season.