The Dow dropped 362 points and the Nasdaq fell 64 points Thursday, crushing the stock market. The Chairman & CEO of Merriman Curhan Ford & Co, Jonathan Merriman, joined the show to discuss stocks he feels have potential in the selloff. Merriman likes Smith & Wesson (SWHC) here and thinks it's a huge opportunity to buy the stock while it's low. Macke still likes video game stocks like Electronic Arts (ERTS) and Activision (ATVI). Adami recommends buying Aministaff (ASF). Finerman likes NYMEX (NMX) and Crocs (CROX). Merriman thinks she is very early to be buying CROX here. Najarian favors Manitowoc (MTW).
The founder and president of Seabreeze partner, Doug Kass, joined the show to give his take on the mortgage insurers. Kass thinks names like Ambac (ABK), PMI Group
(PMI) and MBIA (MBI) don't have enough capital to keep running. Kass also says his sources are telling him that Citigroup (C) will get rid of CEO Chuck Prince this weekend. Charlie Gasparino joined the show to discuss his take on the CEO turmoil at Citigroup and agrees with Kass and expects that Citigroup CEO, Chuck Prince, is about to get the axe.
Najarian feels that Bear Stearns (BSC) and Merrill Lynch (MER) would benefit the most from a management change. Finerman is long Goldman Sachs (GS) and short Merrill.
Word on the Street
Crude oil traded over $96 before selling off to close at $93. Adami was surprised that Exxon Mobil (XOM) didn't go lower on Thursday. He sees the valuation on Chevron (CVX) as compelling and there could be a buying opportunity in the stock. Tesoro (TSO) is another name to look at here.
Microsoft (MSFT) bucked the trend on Thursday and finished the day up. Macke still likes Hewlett-Packard (HPQ).
Las Vegas Sands (LVS) plunged 17% after hours on a bearish earnings report.
Pops & Drops
Pops- Investment Technology Group (ITG) traded up 2%.
United Therapeutics (UTHR) popped 38% higher after study results showed its inhaled-high blood drug.
Drops- Sprint Nextel (S) fell 3% after profits fell 73% in the third quarter.
Manitowoc (MTW) fell 11% off of concerns for the crane maker's backlog.
Garmin (GRMN) fell 7% on concerns over a bidding war with TomTom for Tele Atlas.
Target (TGT) fell 5%.
Face2Face
Cathy asked if Google, Apple (AAPL) and Research In Motion (RIMM) trying to beat each other for the highest share price? Macke says Apple and Research In Motion have split. He advised Cathy not to believe the hype on stock splits just buy less shares.
Scot from Virginia asked if Adami liked Fluor (FLR). Adami still likes Fluor and he feels the story is still intact.
Another writer asked what Finerman is going to do with BEA Systems (BEAS) with the Oracle (ORCL) deal off. Finerman thinks by the end of the day we will see a deal with Oracle and BEA Systems.
John said he owns some Dicks Sporting Goods (DKS) and knows Najarian likes them as well based partially on their sales of names like Under Armour (UA), Nike (NKE) and Crocs. He asked if the recent sell-off based on Croc's numbers and does this change your bullish sentiment on the company? Najarian tells John that even though there are some concerns for Dicks Sporting Goods, right now he still likes the company.
Final Trade
Macke would buy Electronic Arts (ERTS) on a dip.
Adami favors Intel (INTC).
Finerman prefers Flowserve (FLS).
Najarian recommends buying Cypress Semiconductor (CY) for a solar play.
Labels: AAPL, ABK, ASF, BSC, CNBC, CROX, fast money, Fast Money Recap, HPQ, INTC, LVS, MBI, MSFT, MTW, NMX, PMI, RIMM, SWHC, XOM