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Recap of CNBC's Fast Money Program,Thursday March 27. Click on a stock ticker for more analysis.


Pete Najarian discussed the strength of solar and noted XLE and OIH fell in spite of oil’s rise to more than $107 a barrel. Steel “took it on the chin” in spite of a bullish week for the commodity. Concerning the economy in general, the group agreed the market was volatile, and Tim Seymour said equities were down, the fixed-income market may be lower, liquidity is absent and bearishness has returned to the financial sector.

Google (NASDAQ:GOOG), Microsoft (NASDAQ:MSFT), Intel (NASDAQ:INTC), Nvidia (NASDAQ:NVDA) Google’s performance was poor and Oracle was “a mess” on Thursday. Macke said the two are value stocks and likes MSFT if it dips. He would not rush to buy Intel, and expects earnings to be weak for tech for a while. Najarian would pay attention to NVDA because of intense options activity.

Bear Stearns (NYSE:BSC), JP Morgan (NYSE:JPM), AIG (NYSE:AIG)

Karen Finerman said the revised offer for Bear Stearns up from $2 to $10 a share was “fascinating,” and indicated there wasn’t a better deal. Macke said the CEO could have faced prison if he had sold his shares for $70. The group discussed news that AIG CEO Hank Greenberg has been accused of $21 billion of AIG’s treasury stock.

CNBC reporter Steve Liesman

Liesman discussed the Fed’s strategy of spraying money into the market, and said it is changing $37 billion in liquid bonds for illiquid subprime paper. Those who hold this paper could reap savings from 70 basis points upward, because of the inability to finance some types of paper. The group agreed the investment banks have sufficient capital to fund the mortgage securities market.

Energy and Commodities: Apache (NYSE:APA), Chesapeake (NYSE:CHK), Devon (NYSE:DVN), Syngenta (NYSE:SYT), Chemical Mining Company of Chile (NYSE:SQM), Potash (NYSE:POT)

Najarian was bullish on natural gas and discussed APA, CHK and Devon. Seymour said SYT was the German Monsanto and likes SQM as an alternative to POT.

Williams Sonoma (NYSE:WSM), DSW (NYSE:DSW)

WSM reported a poor quarter, which does not bode well for high-end retail. Finerman said DSW’s refusal to give forward guidance was not a good sign.

Thornburg Mortgage (TMA)

A hedge fund’s generous offer to TMA is reminiscent of the takeover of Bear Stearns which overrode shareholders’ votes said Finerman. Macke says the company can play for time, since a total seizure of Bear Stearns was subverted.

Merck (NYSE:MRK), Eli Lilly (NYSE:LLY), Bristol-Myers Squibb (NYSE:BMY), Schering-Plough (SGP)

Najarian thinks MRK’s Vytorin and Eli Lilly’s Effiant will have a major impact on other drug stocks such as BMY and SGP.

Emerging Markets: hedge fund and private equity consultant John D'Agostino with Turkcell (NYSE:TKC), Tenaris (NYSE:TS), Cemig (NYSE:CIG)

D’Agostino said that while political problems in Turkey may impact stocks, he thinks TKC is one of the most innovative mobile companies in the region. In spite of price caps on stocks in Argentina and export tariffs, it was noted that Tenaris, which produces seamless pipelines, could benefit from strong oil. D’Agostino also likes Chile and Columbia and said the latter is more stable than many think. Seymour likes Brazilian stocks, especially CIG.

Trader Radar: Scholastic (NASDAQ:SCHL): traded lower on triple its average daily volume Thursday.

Final Trades: Macke: World Wrestling Entertainment (NYSE:WWE), Seymoure: ConcoPhillips (NYSE:COP), Finerman: Phillip Morris (NYSE:PM), Najarian: Burger King (BKC)


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Source: Fast Money Recap, 3/27/08: Oracle a False Profit