Here are the highlights of stocks discussed on CNBC’s Fast Money for Thursday July 28th.
Commercial Metals Company (NYSE:CMC)
Carl Icahn bought an approximately 10% stake in the company per a 13D filing. (Read Here)
Jon Najarian reported:
“The stock is up 10% in after-hours right now so far on that note so far.”
Commercial Metals Company engages in recycling, manufacturing, fabricating, and distributing steel and metal products, and related materials and services in the United States and internationally. The company is trading significantly below analysts' estimates. Commercial Metals has a median price target of $19 by seven brokers and a high target of $23. The last up/downgrade activity was on Jun 4, 2010, when DA Davidson initiated coverage on the company with a Buy rating.
Motorola Mobility Holdings, Inc. (NYSE:MMI)
Icahn is also involved in Motorola Mobilities which was down 8% in after hours after the earnings announcement. (Read Here)
Guy Adami reported:
“The quarter was fine … but the guidance was abysmal and obviously the stock is showing it now.”
Motorola Mobility Holdings, Inc. provides technologies, products, and services for mobile and wire line digital communication, information, and entertainment applications. The company is trading significantly below analysts' estimates. Motorola Mobility has a median price target of $28.50 by 32 brokers and a high target of $42. The last up/downgrade activity was on Jul 8, 2011, when Robert W. Baird initiated coverage on the company with a Neutral rating.
Final Trade Highlights
Utilities Select Sector SPDR (NYSEARCA:XLU)
Steve Grasso was bullish on the name and stated:
“I’m going to go with XLU utilities … a little more defensive.”
The investment seeks to replicate, net of expenses, the Utilities Select Sector index. The fund generally invests substantially all, but at least 95% of its assets in the securities comprising the index. The index includes companies from the following industries: electric utilities; multi-utilities; independent power producers & energy traders; and gas utilities. The fund bears a higher level of risk than more broadly diversified funds as it is subject to both sector risk and non-diversification risk. It is non-diversified.
Starbucks Corporation (NASDAQ:SBUX)
Guy Adami was bearish on the name, saying:
“Starbucks … got to sell it here.”
Starbucks Corporation purchases and roasts whole bean coffees. It operates approximately 16,858 stores, including 8,833 company-operated stores and 8,025 licensed stores. The company is trading on par with analysts' estimates. Starbucks has a median price target of $42.50 by 20 brokers and a high target of $50. The last up/downgrade activity was on May 6, 2010, when Standpoint Research upgraded the company from Sell to Hold.
Skechers USA Inc. (NYSE:SKX)
Joe Terranova was bullish on the name and stated:
“Pump it up … Skechers.”
Skechers U.S.A., Inc. engages in the design, development, marketing, and distribution of footwear for men, women, and children in the United States and internationally. The company is trading on par with analysts' estimates. Skechers has a median price target of $11.50 by two brokers and a high target of $13. The last up/downgrade activity was on Jul 28, 2011, when BB&T Capital Markets upgraded the company from Hold to Buy.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.