Fast Money Recap, 3/14/08: Bear's Loss Will Be Goldman's Gain

by: Miriam Metzinger

Recap of CNBC's TV program Fast Money, Friday March 14. Click on a stock ticker for more analysis.

Bear Stearns (NYSE:BSC), Wells Fargo (NYSE:WFC), Lehman Brothers (LEH)

While a gentle inflation number was good news for bulls early Friday, shockwaves hit the market over the news of Bear Stearns’ downfall. Najarian commented the selling was “unbelievable” noting a volatility of 700% and profits for traders. LEH is also experiencing more put trades. Finerman said although the environment is scary, when things fall so far, it is time to buy. CNBC on-air editor Charlie Gasparino reported UBS has been farming out major assets of Pain Weber, its brokerage firm to Barclays and WFC.

Gold and Minerals: CurrencyShares Yen Trust (NYSEARCA:FXY), Nucor (NYSE:NUE) and U.S. Steel (NYSE:X)

Terranova says gold is too expensive at $1,000 and would play the weak dollar instead by buying FXY. Adami likes NUE and X.

Yahoo (NASDAQ:YHOO) and Microsoft (NASDAQ:MSFT)

Yahoo dropped 8% during the week. Finerman said she hoped the deal with MSFT would go through. Adami would buy Yahoo and Najarian says if MSFT declines, so will Yahoo.

Humana (NYSE:HUM), WellPoint (NYSE:WPT), Aetna (NYSE:AET), Pfizer (NYSE:PFE), Genentech (Private:DNA)

Humana cut its 2008 earnings forecast by 50% and Najaian sees a bottom in both HUM and WPT. He is also interested in AET, which reiterated earnings. Adami noted PFE dropped to a 52-week low on the CFO’s “disheartening” comments. Terranova said DNA is best of breed and would buy it on a dip.

Clear Channel (CCU-OLD) Finerman is pleased Bain Capital and Thomas Lee’s acquisition of CCU is closing and is profiting from March options she purchased.

Industrial: Deere (NYSE:DE), Caterpillar (NYSE:CAT) Although the tape is bad, Adami is interested in CAT. He notes Goldman Sachs is bullish on DE.

Winning Calls: Nuco (NUE), Applied Materials (NASDAQ:AMAT), Solar Fun (SOLF)

NUE has risen 15% since Adami’s recommendation, AMAT is up 7% since Najarian said he was bullish and Finerman’s idea to short SOLF was right on the money since the stock has dropped 68%. Terranova predicted a rise for natural gas, which is up 35%.

Bear Stearns (BSC) and Goldman Sach’s (NYSE:GS) Earnings Najarian said BSC has been so badly beaten that he doesn’t think earnings news will affect the stock. GS is set to profit from BSC’s misfortune and from its strong quarter. He suggests buying GS under $160.

Joe Lavorgna, Chief Fixed Income Economist for Deutsche Bank

Lavorgna predicted a hard week ahead and thinks the Fed will try to soothe the troubled market with a 100-basis-point cut.

Visa IPO: Mastercard (NYSE:MA), Capital One (NYSE:COF) Adami says Visa’s IPO will be a good indication of the health of the banks, and would not yet buy financials. He added that Visa is not affected by credit problems, since it makes profits directly from transactions, as does MA. However, he and Terranova would not run to invest in Visa’s IPO. Finerman added that those who are bearish on credit cards should short COF. Najarian expressed confidence in MA.

Trader Radar:

Ann Taylor (NYSE:ANN) shares traded on unusual volume last week.

Misfires: Exxon Mobil (NYSE:XOM), U.S. Oil Fund (NYSEARCA:USO), Saks (NYSE:SKS), Nokia (NYSE:NOK), Weyerhaeuser (NYSE:WY)

Even though XOM rose 3% after Adami recommend not buying it, he still prefers USO to XOM. Finerman would get out of SKS, which dropped 19% after she recommended it. Najarian stands buy Nokia, although it dropped since his recommendation. Terranova confessed he didn’t foresee the effect of falling lumber prices on WY, which dropped 2%.

Jerry Sprecher, CEO InterContinental Exchange (NYSE:ICE) Sprecher thinks the Fed will engage in futures trading to help ailing markets. Although January and February saw record volume for ICE, the stock is volatile because of challenged financials.

Final Trade

Terranova is bullish on CurrencyShares Japanese Yen Trust. Finerman chose NYSE Euronext (NYSE:NYX).

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