Pfizer Fizzles, Fast Money Recap (4/18/08)

Recap of CNBC's Fast Money, Friday April 18. Click on a stock ticker for more analysis.

Financial Services Select SPDR (XLF), Merrill Lynch (MER), Wachovia (WB), TD Ameritrade (AMTD), Charles Schwab (SCWH), E* Trade (ETFC), Goldman Sachs (GS), Morgan Stanley (MS), Lehman Brothers (LEH)

Karen Finerman said bullishness in financials demonstrates that investors think the crisis is over in the sector. While she thinks financials will eventually thrive, banks have been losing a lot of money lately. Pete Najarian says XLF keeps going lower and won't bottom until all the bad news is public. Jeff Macke warned viewers not to pay too much attention to the news and said although MER's performance was bad, there is no use shorting financials because there is no catalyst to cause further declines. Adami noted WB has risen 7% after his initial recommendation and said the stock price will continue to rise. Najarian recommended AMTD, SCWH and ETFC and added GS, LEH and MS to his list because he thinks they have been beaten down excessively.

Honeywell (HON), Caterpillar (CAT), United Technologies (UTX), Deere (DE), Potash (POT), Agrium (AGU). Terra (TRA) HON and CAT reported great numbers and Adami attributed CAT's success to mining and would take profits. He said HON should is a good long-term buy. Macke said CAT, HON and UTX benefit from international exposure and Najarian noted Asia was a big factor in DE's success. In the agriculture space, he would take a look at POT, AGU and TRA.

Macy's (M), Nordstrom (JWN), Wal-Mart (WMT), Costco (COST), Mastercard (MA) Although retail has been lagging lately, M, JWN rallied and Macke sees the gain as a selling opportunity. He would hold WMT and COST. Adami commented on MA's 52-week high and says it is a strong buy.

San Juan Basin (SJT), Petrobras (PBR) Dennis Gartman of CNBC came appeared on Fast Money and said although oil was up 6%, it is still going further partly because of conflicts in Nigeria. He likes the whole sector but would pay attention to SJT. He said while he is still bullish on gold, it needs to show more stability and will look more interesting if it rises back to $950. Najarian doesn't think it is worthwhile to short oil ad mentioned new techniques to make finding oil easier. His pick in the sector is PBR.

Google (GOOG), Apple (AAPL), Western Digital (WDC), EMC (EMC) After a long slump, Google had record performance on Friday and moved 20%. Najarian would take some profits but doesn't believe GOOG is overvalued. Finerman said Google is too high to buy and Najarian said $400 would be a cheap price for the internet giant. Adami predicts a "crush" for Apple when it reports and prefers WDC. Najarian picked EMC.

CSX (CSX), Burlington Northern Santa Fe (BNI) Wabtec (WAB) CSX showed strength in rails and Adami suggested looking at BNI before earnings as well as WAB.

Pfizer (PFE), Johnson & Johnson (JNJ), Biogen Idec (BIIB), Amylin (AMLN) PFE's earnings were a disappointment and the group discussed the implications for the rest of the biotech sector. Najarian said Pfizer will improve with more acquisitions. JNJ was a bright light in the sector and he would also consider AMLN. Macke would opt for tech rather than biotechs like Pfizer. Najarian thinks PFE will make a comeback and also likes BIIB. .

Trader Radar: Wells Fargo (WFC) shares were among the most actively traded on the New York Stock Exchange on Friday.

Final Trade: Macke, Finerman, Najarian: Microsoft, Adami: Wachovia.

Seeking Alpha is not affiliated with CNBC, or Fast Money

Comments

[Football Geek:]

Pfizer is a drug company, and they provide research that benefits
everyone, along with drugs that help people. Sometimes in our rush
to make a profit, we lose sight of the good a company does. This
is the nature of the sector, creating drugs takes time and money.
They have a ton of cash, and will continue to make money for many
years to come. I'm holding my shares for the long run.

2008 Apr 21 08:29 PM

[CrossProfit_:]

Regarding Costco (COST) see our previous comment here;
seekingalpha.com/artic...
AND MORE TO THE POINT - here;
seekingalpha.com/artic...

Regarding AAPL see;
www.crossprofit.com/vi...
and comment here;
seekingalpha.com/artic...

CrossProfit

2008 Apr 22 07:47 AM

[Norman Lepo...:]

I agree with the Football Geek.

2008 Apr 22 12:32 PM

[BioInvestor:]

I'd suggest no only hold PFE, but buy more. In fact, why not have one share transferred into your name, that way you can participate in the purchase plan, paying no commissions!

2008 Apr 26 08:24 PM