Recap of CNBC's Fast Money, Monday April 21. Click on a stock ticker for more analysis.
Texas Instruments (NYSE:TXN)
On Texas Instruments' disappointing quarter, Pete Najarian said the competition in chips is too intense and Nokia and Ericsson are looking for other suppliers. Jeff Macke does not think TXN is worth it from the long or short view and says it has managed to lose every business it has been involved in.
Bank of America (NYSE:BAC), Ameriprise Financial (NYSE:AMP), Mastercard (NYSE:MA), Visa (NYSE:V), USBancorp (NYSE:USB)
BAC's 70% decline in profits and its writedowns prompted Macke to comment that the financial sector is taking a break from rallies and he would buy on dips. Karen Finerman said there was at least hope for BAC's 6.8% dividend. Guy Adami thinks AMP which reports on Tuesday, may surprise. Najarian says while Visa has yet to pull back, MA is a good play because of its transaction fees. National City said it is raising capital, and Adami likes USB best among regional banks. Macke would stay away from regional banks.
Eli Lilly (NYSE:LLY), Merck (NYSE:MRK), Bristol-Myers Squibb (NYSE:BMY), Novartis (NYSE:NVS), GlaxoSmithKline (NYSE:GSK), Gilead (NASDAQ:GILD), Boston Scientific (NYSE:BSX), Johnson & Johnson (NYSE:JNJ)
LLYs profit and outlook were lower than expected, while MRK exceeded expectations, and investors are waiting for BMY's report. Najarian likes NVS' pipeline and is bullish on GSK and GILD. BSX rose after hours and Guy Adami would like to hear what the company says about the controversial stent business, an issue that also has implications for JNJ.
Oil Services HOLDRS (NYSEARCA:OIH), Schlumberger (NYSE:SLB), Baker Hughes (NYSE:BHI), Diamond Offshore (NYSE:DO), Arch Coal (ACI), International Coal (NYSE:ICO), Joy Global (JOYG), Bucyrus (NASDAQ:BUCY), Burlington Northern Santa Fe (BNI), CSX (NYSE:CSX)
Addison Armstrong of Tradition Energy discusses oil's record high and thinks the commodity will continue to rise, especially with supply issues exacerbated by problems in Nigeria and a strike at a Scottish refinery. Armstrong would remain long oil and Najarian noted OIH's rise to $210 as well as the good price-to-earnings ratios in SLB, BHI and DO. While Armstrong sees oil services rising, a possible decline is not priced into the stocks. Najarian remarked rising oil prices were reflected by a decline in airlines, but added rails such as BNI and CSX still looked strong. On ACI's rise to its 52-week high, Najarian would consider ICO prior to Wednesday's earnings report, especially given bullish call activity. Adami picked JOYG and BUCY on coal's success.
Viacom (NYSE:VIA), Lion's Gate (LGF), Disney (NYSE:DIS)
VIA announced it is joining forces with MGM and LGF to create a pay cable channel. Macke noted intense competition in the sector and prefers DIS.
Yahoo (NASDAQ:YHOO), Microsoft (NASDAQ:MSFT)
The group said a strong report from Yahoo on Tuesday may land it a better offer than that given by MSFT. Finerman is long Yahoo and thinks the quarter will be great, since the company has put significant effort into improving revenue. Macke likes both companies and while MSFT may raise the bid "to be polite" it won't allow Yahoo to define the terms of the deal. Najarian holds both companies and says the purchase of Yahoo by MSFT is a done deal.
Hasbro (NASDAQ:HAS) CEO Al Verrecchia
Al Verrecchia came on the show to discuss the company's great earnings report, and said the same products which drove the company in 2007 were selling well again in 2008. He doesn't feel HAS has been significantly affected by the recession. Adami says HAS is best-of-breed in a tepid sector. Adami and Najarian would wait for a pullback before buying. .
Trader Radar: Hanesbrands (NYSE:HBI) traded on extraordinary volume on Monday.
Final Trade: Macke: Hasbro, Finerman: short CurrencyShares British Pound Sterline (NYSEARCA:FXB), Najarian: Baker Hughes, Adami: Intel (NASDAQ:INTC).
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