Wall Street Addict

Crude oil closed at another record high at $97.10 and finally finished Tuesday at $96.70. Adami tells viewers they can play Valero (VLO) on valuation or go with Tesoro (TSO).
Finerman offers EnergySolutions (ES) as an idea since it is scheduled to IPO next week. She would also consider Cameco (CCJ) but only with options. Najarian continues to favor Cypress Semiconductor (CY).
Auto Stocks
General Motors (GM) is set to report earnings Wednesday morning before the bell and Ford Motor (F) is set to report earnings on Friday before the bell. Adami likes Ford Motor. General Motors traded down 3% after hours on news that the company will take a $39 billion non-cash charge on financial assets in the mortgage arm. Macke says that Toyota Motor (TM), Honda Motor (HMC) and Hertz Global Holdings (HTZ) all lose from the continued improvements at Ford and General Motors.
Financials: Macke says we saw a counter trend rally on Tuesday and everything worked accept Citigroup (C) and the retailers. Goldman Sachs (GS) denies write-down speculation for the fourth time on Tuesday.
Google (GOOG) continues to surprise investors with news like the recent entry into the mobile handset market. Najarian thinks the trade is Focus Media Holding (FMCN), which is a China play that sells advertising space on mobile handsets. Google, Apple (AAPL), Intel (INTC), Cisco (CSCO) and Research In Motion (RIMM) all hit 52-week highs Tuesday. Yahoo (YHOO) shares took a hit Tuesday. Cisco Systems (CSCO) is set to report earnings Wednesday.
Adami thinks if the Fed is done cutting rates then Public Service Enterprise Group (PEG) will go lower and you can buy it in the low $80’s.
Pops & Drops
Pops- Archer Daniels Midland (ADM) traded up 7% on a strong profits report.
Jacobs Engineering Group (JEC) traded up 5% after profits rose 43%.
XM Satellite Radio (XMSR) traded up 12% on speculation that the merger with Sirius could get done by year end.
IndyMac Bancorp (IMB) traded up 10% after the CEO said the company would survive the mortgage blowup.
Church & Dwight (CHD) traded up 9% after posting a 34% jump in profits.
MasterCard (MA) traded up 7% after Deutsche Bank upgraded the stock and slapped a $250 price target on the credit card name.
Beazer Homes USA (BZH) trades up 10% after shareholders demand the CEO be fired.
Tenet Healthcare (THC) popped 22% as revenues per patient rose 8%.
Drops- NBTY (NTY) fell 5%.
Cooper Tire & Rubber (CTB) fell 14% as sales and profits missed estimates.
Molson Coors Brewing (TAP) fell 2% after third quarter profits fell amid charges.
Final Trade
Najarian recommends shorting MBIA (MBI).
Macke grabs buy tickets for Intel (INTC).
Adami picked Ford Motor (F).
Finerman advises shorting Lehman Brothers Holdings (LEH)

Labels: AAPL, CCJ, CNBC's Fast Money, CSCO, CY, F, Fast Money Recap, FMCN, GM, GOOG, GS, HMC, HTZ, INTC, PEG, RIMM, TM, TSO, VLO, YHOO

Fed Cut: Najarian's big question is will the Fed cut 25 or 50 basis points. Finerman is surprised that the market is rallying on the Fed rate cut anticipation. Utilities Select Sector SPDR Fund (XLU) led the stock market higher on Monday. Adami likes Public Service (PEG) into earnings.
Crude oil rose to a record $93.80. Reuters saying that gas prices will now play catch up with crude. Najarian continues to like the oil service sector, with Adami suggesting Tesoro (TSO) as a buying opportunity.
Warren Buffett: Doesn't think China is a bubble; he just thinks the market has run up. Buffett sold his entire stake in PetroChina (PTR) because he made a handsome profit, not because he thinks it won't go higher. The real concern with China is what will happen after the Olympics.
Chartology: Carter Worth joined the show to review the charts of Liz Claiborne (LIZ) and Eastman Kodak (EK). Worth points out that stocks worldwide are rallying but nobody is buying Liz Claiborne. On the other hand, the Eastman Kodak chart displays bullish trends going into earnings.
Earnings Preview: Procter and Gamble (PG) is set to report earnings on Tuesday and Clorox (CLX) will report Wednesday. Najarian reminds investors about Colgate (COL), which he think has more upside then Procter. Exxon Mobil (XOM) is set to report earnings on Thursday before the open.
Stem Cell: Genentech (DNA), Gilead Sciences (GILD), Amgen (AMGN) all reside in Silicon Valley. Scientists are now excited about the potential of stem cell research and California is positioned the best to benefit from the controversial process. Najarian would keep an eye on Myriad Genetics (MYGN) and Cepheid (CPHD) for genetic plays.
Word on the Street
Merrill Lynch (MER) shares rose 2% on hopes that CEO Stan O'Neal is on his way out. Chip stocks rallied after a bullish industry report shows global sales rose 5.9%. Macke still loves Intel (INTC) and is long the stock. Adami mentioned that Goldman Sachs put a $35 price target on Dell (DELL). Kellogg (K) reported strong third quarter profits. Macke is long Safeway (SWY) for a play on the grocery store sector. Options action in Under Armour (UA) perked Najarian's interest on Monday. The options market is looking for a 10% move on Under Armour in either direction. Macke continues to like Nike (NKE). Oracle's (ORCL) $17 bid for BEA Systems (BEAS) expired on Sunday.
Pops & Drops
Pops - Garmin (GRMN) traded up 6%.
American Axle (AXL) traded up 12% on news the firm will extend product lines.
Lehman Brothers (LEH) traded up 4% on news that the investment bank is setting up a $3 billion fund to buy leveraged loans from struggling banks. Goldman Sachs (GS) is the preferred stock for Finerman.
Sohu.com (SOHU) popped up 7%.
Weyerhaeuser (WY) traded up 8%.
Drops- Tupperware Brands (TUP) dropped 4% off of disappointing profits. Najarian thinks this is an opportunity to buy it.
Office Depot (ODP) fell 14%.
Final Trade
Macke advised investors to trim positions in EMC Corp (EMC).
Adami likes Gilead Sciences (GILD) for the $300 million stock buyback they recently announced.
Finerman would buy Washington Group (WNG) for a takeover play.
Najarian believes Merrill Lynch (MER) is ready to go higher.

Labels: AMGN, CNBC, DNA, EK, fast money, Fast Money Recap, GILD, INTC, LIZ, MER, PEG, PTR, TSO, XLU

Refiner stocks mostly fell Wednesday after several companies forecast lower earnings, though analysts said the sector's longer-term prospects are worth the investment.
Valero Energy Corp. on Wednesday became the latest in a string of refiners to issue such a message, saying earnings excluding certain items for the third quarter will be $1.30 to $1.40 per share. Analysts polled by Thomson Financial had on average been expecting earnings of $1.91 per share.
Valero shares fell 37 cents to $71.82.
Analysts urged investors to buy up cheaper shares, however, saying the quarterly results are not an indication of the industry's long-term health.
Goldman Sachs analyst Arjun Murti told investors to "buy any dip" related to Valero's warning in a client note on Wednesday.
"While the transitional nature of 3Q2007 had a more pronounced negative impact on quarterly refining earnings than we expected, oil market conditions have otherwise turned decidedly bullish, which will ultimately benefit Valero and the refining sector," Murti wrote.
Citigroup analyst Doug Leggate reiterated his "Buy" rating for Valero and called any share-price weakness an opportunity to do just that.
"Clearly, the market reaction will not be positive," Leggate wrote in a note Wednesday. "That said, 3Q07 is over. A poor quarter should not be a major surprise."
Chevron Corp. said Tuesday its third-quarter profit will drop sharply from record levels reached during the spring. Banc of America Securities analyst Daniel Barcelo focused on the company's future prospects in a client note Wednesday.
"Any significant pull back in Chevron's share price could present a good buying opportunity into 2008 given its oil price exposure and visible deepwater growth to the end of the decade," he wrote.
ConocoPhillips and Marathon Oil Corp. have also said they expect third-quarter earnings to be hit by weak margins.
ConocoPhillips shares rose 16 cents to $86.04 as Marathon shares fell 67 cents to $57.71.
Citigroup analyst James Neale said expectations for BP PLC's third quarter are negative, but reinforced the sentiment, also expressed by other analysts, that BP's operational turnaround and production boosts next year will propel its shares upward.
BP shares fell 3 cents to $71.15.
Published by AP

Labels: BP, COP, CVX, FTO, HES, MRO, MUR, SU, SUN, TOT, TSO, VLO, XOM