Steps are simple

stockpickr.com
1. Check stocks hitting 52 week low or near.

trefis.com
2. Check Trefis price and estimates. See what analysts are saying

3. Check research on morningstar

4. Check who all are owning the stock. like Buffet etc., members of congress

5. Check news on the industry for that company/sector, like deals

6. Do check P/E and Book value and 1 year estimated price on yahoo finance.