Five must-see moments from 'Fast Money'
From big earnings movers to an emerging sell-off, the "Fast Money" traders have you covered in five must-see moments from this past week.
1) More bad news for old tech?
Shares of IBM took a hit Tuesday, the first day of trading in a shortened week on Wall Street. IBM fell by more than 3 percent in the after-hours session after the company reported its fourth straight miss on quarterly revenue. It was the second shortfall for a big tech company this earnings season, with Intel reporting lower-than-expected fourth-quarter profits Jan. 16.
Tim Seymour of Triogem Asset Management said that part of IBM's problem was earnings growth in the emerging markets.
"If you look at the BRICs and if you look at the growth markets for them … they're just not getting it," he said.
Stuart Frankel's Steve Grasso said that he sees more downside ahead.
"IBM is a slow decline but technically sets up for further losses here," he said.
Brian Marshall of ISI group, one of only two analysts with a sell rating on IBM, phoned in to give his take on the earnings report. Regarding his negative rating, he said, "there's really no change to our thesis."
IBM isn't targeting its efforts productively, according to Marshall.
"They're not focusing in the right areas," he said. "They have more research projects going on as opposed to development projects."
2) Gartman's new best commodity play
A big winner from the recent upswing in auto sales could come from a surprising place, according to Dennis Gartman, editor of the Gartman Letter. On Tuesday, he told viewers that he had opened a long position in palladium, a commodity used in electronics, jewelry and automaking.
"Palladium and platinum are the two semiprecious metals involved in catalytic converters," Gartman said. "It's a bet on increased economic activity; it's a bet on increased automobile sales."
Tim Seymour of Triogem Asset Management said he would consider a similar trade, but with platinum rather than palladium.
"If you trade PPLT, which is a platinum ETF … against the GLD, you can see where these things should trade relative to each other historically," he said. "There is more to go in this trade."
3) Netflix rockets higher
Shares of video streaming service Netflix rose more than 17 percent in Wednesday's after-hours session. The company said it had added 2.33 million streaming subscribers in the fourth quarter, beating analyst estimates.
Guy Adami of TradeMonster said that Netflix's international growth is the key to further upside. "The story is intact," he said. "This stock is going to continue to move north from here."
Josh Brown of Ritholtz Wealth Management called Netflix a "one-of-a-kind company," adding that "no one can compete" with its huge subscriber progression.
The big pop surprised options traders, who had predicted a 10 percent move on earnings, according to OptionMonster's Jon Najarian.
Tony Wible of Janney Montgomery Scott, who has a buy rating on Netflix, discussed whether the company might try to raise prices.
"In this release, there are hints that they're going to move prices higher," he said. "I see all the signs that these guys are testing elasticity around the globe."
4) Ebay and the Icahn effect
Netflix wasn't the only stock with a big upside move in Wednesday's after-hours session. Shares of eBay jumped even though the company gave light revenue guidance during its quarterly earnings report.
The move higher came after it was revealed that billionaire investor Carl Icahn had taken a stake in the company. In addition to nominating a pair of board members, he is reportedly pushing for eBay to split its PayPal and marketplace businesses. It was a busy day for Icahn, who earlier Wednesday told his Twitter followers that he had increased his stake in Apple.
Colin Gillis of BGC Financial broke down eBay's earnings report and weighed in on its newest shareholder.
"We definitely would have a much different result in the after-hours without this Carl Icahn news," he said, noting that eBay's weak revenue forecast normally would have driven down the stock.
Though CEO John Donahoe acknowledged Icahn's proposal on eBay's earnings call Wednesday, he said his board intends to keep eBay Marketplace and PayPal under the same roof.
5) The selloff heard 'round the world
Weakness in the markets accelerated Thursday, and Brian Kelly of Brian Kelly Capital honed in on the root cause of the selloff.
"Today was about the China PMI slowing down," he said. "Anybody who has China as a customer had a tough day, and I don't think it's over."
Guy Adami agreed, saying that there could be more downside ahead.
"I've been talking about that 1,755, 1,760 level [on the S&P 500] for a while," he said. "I think there's a real good chance that we test that."
In addition to China data, Adami blamed market weakness on "less than stellar" earnings in the U.S.
Karen Finerman of Metropolitan Capital was more optimistic.
"The market was so much at the end of last year … to have it pull back a little bit is probably a good thing," she said.
Oppenheimer's Carter Worth broke down the technical levels in the S&P 500, looking for clues about where the market could go next. According to him, stocks are due for a 5 percent pullback, which could actually help avert a much bigger selloff.
"You want the dips and corrections," Worth said. He also broke down the weakness in the emerging markets, calling it the "bigger problem" to watch.