Google Rides Again - Fast Money Recap (4.17.08)

Recap of CNBC's Fast Money, Thursday April 17. Click on a stock ticker for more analysis.
Google (GOOG), Yahoo (YHOO), Microsoft (MSFT) Jeff Macke congratulated those who were long Google and suggested taking profits after the stock's huge move. Guy Adami suggested Google may be a proxy for the S & P 500 and thinks the market should be bullish on this news. Karen Finerman thinks the news is good for Yahoo if the results are due to thriving internet market. However, if Google is seizing yet more market share, MSFT and Yahoo will be the losers. Macke is not very positive about Yahoo, but Pete Najarian would buy the stock and sell Yahoo calls.

Merrill Lynch (MER). Citigroup (C), JP Morgan (JPM), Wells Fargo (WfC), Financial Select Sector SPDR (XLF) The market was indifferent to news of MER writedowns and Adami commented that CEO John Thain seems to have backtracked from his earlier statement not to raise capital. Finerman thinks the capital will not dilute equity and Macke likes Merrill, and says while Citi's results may be disappointing, a lot of the misery is already priced in, and would buy financials on dips. Najarian would do so with JPM, WFC and XLF. Adami predicted an upgrade for the sector.

Nokia (NOK), Corning (GLW) Nokia's strategy of selling cheaper phones in developing countries caused the company's earnings woes, said Najarian who recommends Nokia find ways to sell phones in the U.S. Adami would play the cell phone business by buying GLW which makes glass in cell phone displays.

Potash (POT)

Potash got hammered on Thursday, but Najarian noticed options activity was bullish. He would buy the stock on a pullback.

Mariott (MAR), MGM (MGM), Vail Resorts (MTN)

Macke said MAR's poor performance was not surprising given the health of the hotel business. He added MGM and MTN, also indicators of consumer confidence, are also having trouble times.

Halliburton (HAL), Baker Hughes (BHI), Schlumberger (SLB), Apache (APA), Devon (DVN), U.S. Steel (X)

With oil going to $115, Adami would buy HAL before earnings and would buy BHI and SLB on dips. Najarian said natural gas had a great day with 52-week highs from APA and DVN before they dipped back. He thinks it is almost time to buy the stocks. Citigroup has downgraded X and Adami would use declines to buy.

TD Ameritrade (AMTD) CEO Joe Moglia

Moglia discusses his company's successful earnings and strong balance sheet and said retail investors are still confident. He said he was considering E*Trade's (ETFC) business and that the company has benefited from E*Trade's decline. Najarian is bullish on AMTD and also likes Knight Capital (NITE) and Charles Schwab (SCHW).

Disney (DIS), Viacom (VIA), News Corp. (NWS), Time Warner (TWX) and CBS (CBS)

Media stocks are taking a beating and the group talked to Anthony Diclemente, who said bad news will someday be priced into the stocks and would pick Disney on a drop. For those who want media in their portfolios, he recommended buying several stocks. Najarian agreed with Diclemente about Disney and Adami thinks CBS will be strong. Finerman doesn't like the sector.

Career Education (CECO), Corinthian College (COCO), ITT Educational Services (ESI), DeVry (DV), Apollo Group (APOL)

With the credit crunch, students are also feeling the pain, and Finerman thinks the government will have to get involved to make loans available for education. She is bearish CECO, COCO, ESI, but says DV is probably the strongest in the sector. Adami thinks APOL has bottomed at $39.

Final Trade: Macke and Adami: Microsoft, Finerman would short the British pound, Najarian: Yahoo

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Comments

[Ames Tiedeman]

Too bad Cramer bashed GOOG.