Fast Money Recap - Buy Research in Motion at Your Peril (3/31/09)

Recap of CNBC's Fast Money, Tuesday March 31

Research in Motion (RIMM), Nokia (NOK), Palm (PALM)

Wednesday is the beginning of the CTIA Wireless Show in Las Vegas. Pete Najarian would look at Research in Motion, which is releasing three new products and has earnings on Thursday. He is also interested in Palm which is going to introduce its Pre phone. While Goldman suggested buying RIMM ahead of earnings, Adami warned, "I would do so at your own peril." Tim Seymours' favorite in the space is Nokia, which is getting demand in China and worldwide.

Unexpected Rise: Northern Trust (NTRS), Visa (V), Morgan Stanley (MS)

The Dow finished higher on Tuesday, closing off a March that saw the best stock performance since 2002. Guy Adami admitted he expected stocks to go lower, but suggests taking profits because he thinks the market is heading south. Tim Seymour thinks investors wanted to be long at the end of the quarter. Pete Najarian notes the Volatility Index is still around 40, which shows investors are nervous even amid the gains. He would consider buying Visa and Northern Trust, which might be replacements for weaker Dow banks. Melissa Lee mentioned that Morgan Stanley would probably not be able to repay its bailout money this year.

Microsoft (MSFT), Oracle (ORCL), IBM (IBM), Hewlett Packard (HPQ), Intel (INTC), Valueclick (VCLK)

Microsoft rose almost 7% on an upgrade and brought the Nasdaq with it. Adami thinks Oracle is the real mover in the tech sector and would consider buying it on a dip. Pete Najarian likes IBM, HPQ and Intel. "I've lost plenty of money in Microsoft," Jeff Macke chimed in. Najarian also says internet growth is strong which is good for Google and options suggest ValueClick might go higher.

Alcoa (AA), Freeport McMoRan (FCX), Cliffs Natural Resources (CLF)

Alcoa was upgraded by Deutsche Bank from "sell" to "hold" while Freeport was downgraded from "hold" to "sell." Tim Seymour thinks copper demand has fallen too low and just a slight increase could mean an upside for Freeport. Najarian thinks Cliffs could see an upside.

Monsanto (MON), Bunge (BG), DuPont (DD)

The traders discussed buying Monsanto ahead of earnings on Thursday. Jeff Macke was not excited about the ag sector, while Pete Najarian likes Monsanto because it is ag biotech. He would wait for a pullback and would take a look at DuPont. Tim Seymour's pick in the sector is Bunge.

Retail is In: Retail HLDRS (RTH), American Eagle (AEG), Hot Topic (HOTT), Lululemon (LULU)

With spring in the air, it might be time to take a fresh look at retail, a sector that is actually up, observes Pete Najarian, based on the performance of RTH. He owns American Eagle, Hot Topic and Lululemon. However, Jeff Macke would play it safe and stick to Wal-Mart.

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Comments

[User 386961:]

Are you refering to Agnico-Eagle Mining(AEM-NYSE) or American Eagle Outfitters(AEO)? AEG is the symbol for AEGON which is Dutch based insurance company.

Apr 01 11:58 AM

[venture exc...:]

Adami:
You sure got RIM WRONG!!!

Apr 04 01:13 AM

[venture exc...:]

Adami:
You sure got RIM WRONG!!!

AA is tanking next week and DGL is going to the moon.

Apr 04 01:14 AM