CNBC's Fast Money Recap Oct. 16th
Intel (INTC) reported strong quarterly earnings and traded up after hours on the robust numbers. Macke likes Intel's margins and revenue estimate bump, and Adami suggests buying Intel above $27 with a stop at $26.50. Their CFO, Andy Bryant, joined the show to discuss their numbers. Bryant says the company saw the highest quarter-to-quarter revenue growth in 10 years. Adami favors Dell (DELL) off this worldwide demand. Macke suggests getting into Microsoft (MSFT). Najarian thinks the trade off of Intel is Apple (AAPL). Yahoo (YHOO) also traded higher after hours. Adami says IBM (IBM) fell short a bit on gross margins and hardware revenue in other tech earnings.
Word on the Street
Tuesday the Dow dropped 71 points and oil hit another high above $88 a barrel on geopolitical concerns that Turkey might attack Iraq. The crew offered up their trades based on these events. In the health care sector, Bristol-Myers (BMY) received Food and Drug Administration approval for breast cancer treatment Ixempra. Najarian likes Bristol. Adami likes Pfizer (PFE) into earnings. Finerman bought some Biogen Idec (BIIB). Johnson & Johnson (JNJ) reported a drop in profits off of poor heart stent sales. In regards to oil Adami likes Apache (APA) and he believes it'll go to $105. Adami doesn't think the $80-to-$90 move in oil is a good thing for the overall stock market. Finerman still likes ConocoPhillips (COP) for a play on rising oil prices.
Banking: Najarian noticed some unusual options activity in some regional banks on Tuesday. He saw heavy trading in PNC Bank (PNC) options.
CSX Corp (CSX) reported strong third-quarter earnings after the bell. Macke says the railroad stocks have pulled back and could offer a decent entry here. Adami believes CSX is a buy. Finerman has been looking at FreightCar America (RAIL).
AT&T (T) has hired Goldman Sachs to look into buying EchoStar (DISH).
Ericsson (ERIC) crashed 24% after issuing an earnings warning.
Dennis Gartman, author of The Gartman Letter, joined the show to discuss his take on crude oil. He doesn't believe we will get $100 oil, but if it does move that high it won't last long. He would play natural gas with United States Natural Gas Fund (UNG), San Juan Basin Royalty Trust (SJT) and Pengrowth Energy Trust (PGH).
eBay (EBAY) is set to report earnings on Wednesday after the bell.
Kraft (KFT): Wall Street whale and activist shareholder Nelson Peltz could be ready to make some noise at Kraft.
Pops & Drops
Pops: Supervalu (SVU) traded up 6% on a strong profits report.
Bear Stearns (BSC) traded up 2% after a Chinese investment firm expressed interest in acquiring a stake in the brokerage.
Marriott (MAR) traded up 4% on rumors of a takeover.
E.W. Scripps (SSP) traded up 9% after the company announced plans to split into two companies. Macke advises selling the pop.
Saks (SKS) traded up 5% on takeover speculation. Finerman isn't buying the rumors.
Robbins & Myers (RBN) exploded up 18% on strong fourth-quarter profits. Finerman believes this is a great earnings story.
Drops: Amylin (AMLN) fell 5% after the FDA said diabetes drug Byetta might cause pancreatitis. Najarian says this is negative news.
Domino's Pizza (DPZ) crashed 14% after taking a hit on profits from the rising costs of cheese and declining customer visits. Macke advises getting long beer stocks shorting pizza stocks.
Final Trade
Macke recommends Microsoft.
Adami suggests buying Intel.
Finerman favors Kraft.
Najarian says the options activity in EchoStar has him bullish on the satellite firm.
Word on the Street
Tuesday the Dow dropped 71 points and oil hit another high above $88 a barrel on geopolitical concerns that Turkey might attack Iraq. The crew offered up their trades based on these events. In the health care sector, Bristol-Myers (BMY) received Food and Drug Administration approval for breast cancer treatment Ixempra. Najarian likes Bristol. Adami likes Pfizer (PFE) into earnings. Finerman bought some Biogen Idec (BIIB). Johnson & Johnson (JNJ) reported a drop in profits off of poor heart stent sales. In regards to oil Adami likes Apache (APA) and he believes it'll go to $105. Adami doesn't think the $80-to-$90 move in oil is a good thing for the overall stock market. Finerman still likes ConocoPhillips (COP) for a play on rising oil prices.
Banking: Najarian noticed some unusual options activity in some regional banks on Tuesday. He saw heavy trading in PNC Bank (PNC) options.
CSX Corp (CSX) reported strong third-quarter earnings after the bell. Macke says the railroad stocks have pulled back and could offer a decent entry here. Adami believes CSX is a buy. Finerman has been looking at FreightCar America (RAIL).
AT&T (T) has hired Goldman Sachs to look into buying EchoStar (DISH).
Ericsson (ERIC) crashed 24% after issuing an earnings warning.
Dennis Gartman, author of The Gartman Letter, joined the show to discuss his take on crude oil. He doesn't believe we will get $100 oil, but if it does move that high it won't last long. He would play natural gas with United States Natural Gas Fund (UNG), San Juan Basin Royalty Trust (SJT) and Pengrowth Energy Trust (PGH).
eBay (EBAY) is set to report earnings on Wednesday after the bell.
Kraft (KFT): Wall Street whale and activist shareholder Nelson Peltz could be ready to make some noise at Kraft.
Pops & Drops
Pops: Supervalu (SVU) traded up 6% on a strong profits report.
Bear Stearns (BSC) traded up 2% after a Chinese investment firm expressed interest in acquiring a stake in the brokerage.
Marriott (MAR) traded up 4% on rumors of a takeover.
E.W. Scripps (SSP) traded up 9% after the company announced plans to split into two companies. Macke advises selling the pop.
Saks (SKS) traded up 5% on takeover speculation. Finerman isn't buying the rumors.
Robbins & Myers (RBN) exploded up 18% on strong fourth-quarter profits. Finerman believes this is a great earnings story.
Drops: Amylin (AMLN) fell 5% after the FDA said diabetes drug Byetta might cause pancreatitis. Najarian says this is negative news.
Domino's Pizza (DPZ) crashed 14% after taking a hit on profits from the rising costs of cheese and declining customer visits. Macke advises getting long beer stocks shorting pizza stocks.
Final Trade
Macke recommends Microsoft.
Adami suggests buying Intel.
Finerman favors Kraft.
Najarian says the options activity in EchoStar has him bullish on the satellite firm.
Labels: AAPL, ATT. T, BIIB, BMY, CNBC, COP, DELL, ERIC, Fast Money, Fast Money Recap, IBM, INTC, MSFT, pfe, RAIL, YHOO
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