CNBC's Fast Money Recap Nov. 8th
The Dow finished down 33 points and the Nasdaq down 63 points on Thursday. Bank stocks like Citigroup (C) and Morgan Stanley (MS) recovered in late trading Thursday. Charlie Gasparino joined the show to discuss his take on the bank stocks. He doesn't think the worst is over for Citigroup. Gasparino next tackled American International Group (AIG). He described how former CEO Hank Greenberg wants to take over AIG and put his people in charge of the insurance giant.
Technology: The four horseman of technology were crushed Thursday, with Apple (AAPL) falling 6%, Google (GOOG) falling 5%, Research In Motion (RIMM) falling 6% and Amazon.com (AMZN) falling 4%. Seymour thinks Cisco Systems (CSCO) looks pretty good here and the firm has moved lots of business abroad. Adami says if you want to play tech look at EMC (EMC) and VMware (VMW).
Speculation made the rounds on Wall Street Thursday that BHP Billiton (BHP) might looking for a new takeover target after Rio Tinto (RTP) rejected BHP's takeover offer. Seymour remarks that potential targets are: Southern Copper (PCU), Freeport McMoRan (FCX), Cameco (CCJ), Potash (POT), Alcoa (AA) and US Steel (X).
Although retailers reported the worst October same-store sales numbers since 1995, Finerman maintains that retail still has some value and companies to consider would be Gymboree (GYMB), Children's Place (PLCE), Kohl's (KSS), Wal-Mart (WMT) and Nordstrom (JWN).
Disney (DIS) profits rose 12% on ESPN and US theme parks. Priceline.com (PCLN) beats third quarter profit expectations and the stock soars 16% after hours. iShares MSCI Emerging Markets Index bucks the market weakness and closes up on the day. First Solar (FSLR) explodes 28%. Najarian has now sold Cypress Semiconductor (CY) into the solar strength. At this point, the solar stocks are beginning to get to over-heated. Adami advises taking profits in Evergreen Solar (ESLR).
Auction house Sotheby's (BID) had major issues selling a quarter of its paintings, including a well known Van Gogh piece that was suppose to fetch $35 million. Finerman tells viewers that when BID doesn't sell these pieces they own them and they now own them at the worst time. She predicts a crack in the art market and BID could get annihilated.
Bidding for Biogen (BIIB) has begun with rumored acquirers Pfizer (PFE), Merck (MRK) and Johnson & Johnson (JNJ) leading the pack.
Pops & Drops
Pops- McDonald's (MCD) traded up 2% after posting a 6.9% increase in October same-store sales.
Monsanto (MON) traded up 4% .
Mobile Telesystems (MBT) 9% and VimpelCom (VIP) jumped 8%.
Procter & Gamble (PG) traded up 2%
King Pharmaceuticals (KG) traded up 14% after posting a quarterly loss.
Restoration Hardware (RSTO) exploded up 140%.
Drops- PetroChina (PTR) fell 6% as the China trade continues to unwind.
Oracle (ORCL) fell 8% as the Nasdaq took it on the chin Thursday.
Final Trade
Seymour is positive about Alcoa (AA).
However, Adami thinks the market will continue to decline and he would play it with Short Dow30 Proshares (DOG).
Finerman recommends Watts Water Technologies (WTS).
Najarian favors Boston Scientific BSX for the options activity he noticed in the device maker on Thursday.
Vig likes EOG Resources (EOG) and Continental Resources (CLR) for plays on oil and natural gas.
Technology: The four horseman of technology were crushed Thursday, with Apple (AAPL) falling 6%, Google (GOOG) falling 5%, Research In Motion (RIMM) falling 6% and Amazon.com (AMZN) falling 4%. Seymour thinks Cisco Systems (CSCO) looks pretty good here and the firm has moved lots of business abroad. Adami says if you want to play tech look at EMC (EMC) and VMware (VMW).
Speculation made the rounds on Wall Street Thursday that BHP Billiton (BHP) might looking for a new takeover target after Rio Tinto (RTP) rejected BHP's takeover offer. Seymour remarks that potential targets are: Southern Copper (PCU), Freeport McMoRan (FCX), Cameco (CCJ), Potash (POT), Alcoa (AA) and US Steel (X).
Although retailers reported the worst October same-store sales numbers since 1995, Finerman maintains that retail still has some value and companies to consider would be Gymboree (GYMB), Children's Place (PLCE), Kohl's (KSS), Wal-Mart (WMT) and Nordstrom (JWN).
Disney (DIS) profits rose 12% on ESPN and US theme parks. Priceline.com (PCLN) beats third quarter profit expectations and the stock soars 16% after hours. iShares MSCI Emerging Markets Index bucks the market weakness and closes up on the day. First Solar (FSLR) explodes 28%. Najarian has now sold Cypress Semiconductor (CY) into the solar strength. At this point, the solar stocks are beginning to get to over-heated. Adami advises taking profits in Evergreen Solar (ESLR).
Auction house Sotheby's (BID) had major issues selling a quarter of its paintings, including a well known Van Gogh piece that was suppose to fetch $35 million. Finerman tells viewers that when BID doesn't sell these pieces they own them and they now own them at the worst time. She predicts a crack in the art market and BID could get annihilated.
Bidding for Biogen (BIIB) has begun with rumored acquirers Pfizer (PFE), Merck (MRK) and Johnson & Johnson (JNJ) leading the pack.
Pops & Drops
Pops- McDonald's (MCD) traded up 2% after posting a 6.9% increase in October same-store sales.
Monsanto (MON) traded up 4% .
Mobile Telesystems (MBT) 9% and VimpelCom (VIP) jumped 8%.
Procter & Gamble (PG) traded up 2%
King Pharmaceuticals (KG) traded up 14% after posting a quarterly loss.
Restoration Hardware (RSTO) exploded up 140%.
Drops- PetroChina (PTR) fell 6% as the China trade continues to unwind.
Oracle (ORCL) fell 8% as the Nasdaq took it on the chin Thursday.
Final Trade
Seymour is positive about Alcoa (AA).
However, Adami thinks the market will continue to decline and he would play it with Short Dow30 Proshares (DOG).
Finerman recommends Watts Water Technologies (WTS).
Najarian favors Boston Scientific BSX for the options activity he noticed in the device maker on Thursday.
Vig likes EOG Resources (EOG) and Continental Resources (CLR) for plays on oil and natural gas.
Labels: AAPL, BHP, CNBC, CSCO, EMC, Fast Money, Fast Money Recap, GOOG, MS, RTP, VMW
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