FAST MONEY FEATURES
FAST MONEY POLLGet in the post game. Respond to our
"Question of the Day" right now.
TRADER RADAR Which stock should be on your screen? Follow the clues to solve this puzzle.
TRADE SCHOOLGrab a pencil because school is in session and the Fast Money traders are teaching class.
EMERGING MONEY TOP 20
Fast Money's index for the world.
FAST MONEY PODCASTSDownload Fast Money onto your MP3 Player.
FAST MONEY WIDGETGrab this all-in-one application and get recaps of the show sent right to your desktop or blog.
SHOP FOR FAST MONEY MERCHANDISEGet your game on with Fast Money gear.
FAST MONEY PHOTOS!Check out our scrapbook. These "pix" are guaranteed winners.
NEWSLETTERSign up and receive a recap email every Friday after the show!
FAST MONEY MOBILE ALERTSGet advanced information about the next Fast Money.
 |
The headline: Stocks rise strongly, capping positive week.
Corporate earnings put Wall Street in a buying mood and sent the Dow [.DJIA Loading... ()
]soaring, explains Melissa Lee who’s filling in for Dylan Ratigan. Results from Citigroup helped to make investors feel better about the outlook. That's despite another record high for crude oil futures.-----------------------------------
CITI OF HOPE
The headline: Citigroup Shares Soar Despite Steeper-Than-Expected Loss.
Citigroup [C
Loading...
()
] posted a $5.11 billion quarterly loss on Friday and said it will cut another 9,000 jobs after suffering billions of dollars of write-downs tied to mortgages, other debt and a slumping economy, explains Melissa Lee.
The loss was larger than expected and reflected more than $16 billion of write-downs and credit-related costs at the largest U.S. bank. Nonetheless, investors took comfort hearing that the bank and its new chief executive, Vikram Pandit, are taking steps to get past credit problems and shares closed over 4% higher.
What’s not to love about a $5 billion loss, jokes Karen Finerman. Fabulous! Imagine what they’ll do when they make money!!! But seriously, she adds, it suggests Wall Street thinks the worst is over.
I think it’s time to get long some of the financials, counsels Jeff Macke.
The write-downs could well become write-ups, speculates Pete Najarian.
I still like Wachovia [WB
Loading...
()
],adds Guy Adami, but as a trade.
-----------------------------------
CAPTAINS OF INDUSTRY
The headline: Honeywell, Caterpillar Surge On Stronger-Than-Expected Earnings.
Shares of Honeywell [HON
Loading...
()
] traded higher on Friday, with analysts upbeat after the diversified industrial company reported a first-quarter profit that beat Wall Street estimates.
Meanwhile, Caterpillar [CAT
Loading...
()
] climbed Friday after the heavy equipment maker reported first-quarter earnings well above Wall Street's expectations and maintained its outlook for the year despite a slowing U.S. economy.
I think this is an opportunity to take profits in CAT, says Guy Adami. If you sell it here I think you can buy it back cheaper. But I like Honeywell long-term.
DuPont [DD
Loading...
()
] looks good to me, adds Pete Najarian, as an ag play. Keep an eye on this one!
-----------------------------------
SHOP 'TIL YOU POP
The headline: J.C. Penney, Nordstrom, Department Store Stocks Spike Friday.
Apparel retailer Nordstrom [JWN
Loading...
()
] said Thursday its same-store sales fell 9.1 percent in March, hurt by a shift in the Easter holiday, explains Melissa Lee. And the tough U.S. economic climate has thrown a blanket on J.C. Penney's [JCP
Loading...
()
] full-year forecast, however the retailer remains determined to keep innovating to gain market share.
The pop is probably coming from the government rebate checks which begin going out soon. I think this is an opportunity to sell, says Jeff Macke. If you want to park your money in retail, I like Costco [COST
Loading...
()
].
Or look at Mastercard [MA
Loading...
()
], Guy Adami adds.
-----------------------------------
CRUDE CROSSES $116
The headline: New Record Close; Crude Oil Reverses Early Losses Friday On Report Of Pipeline Sabotage In Nigeria.
Oil hit a lifetime high of $117 a barrel, the fourth time crude has hit a record peak this week in New York trading. Investors dumped safe-haven gold, sending prices down 3 percent, as they added positions in riskier bets such as stocks and crude oil.
Strategic investor Dennis Gartman joins the panel for this conversation. Following is a summary of his main points.
What’s your take on crude oil?
I think the next stop for oil is going to be higher. The problems in Nigeria are probably going to push crude up. And overall I expect energy to go higher. Petrobras [PBR
Loading...
()
] might be an interesting play on oil exploration, he adds.
What’s your best play for Monday?
Own the nat gas trusts, counsels Gartman. Look at San Juan Basin [SJT
Loading...
()
].
How about the gold trade?
The dollar is getting stronger, and that’s taking gold lower. I’m still bullish of gold but it’s got to get to $950 for it to become technically strong.
-----------------------------------
TECHNOLOGICAL MARVELS
The headline: Tech Bellwethers Intel, IBM, Google Post Better-Than-Expected Earnings This Week.
In technology, Google [GOOG
Loading...
()
] posted its best-ever 1-day gain after both profit and sales crushed estimates. Strong earnings from Intel [INTC
Loading...
()
] and IBM [IBM
Loading...
()
] also boosted the tech heavy Nasdaq earlier in the week.
Google is worth nearly $20 billion more Friday than it was Thursday. It’s hard to get on-board with that, adds Karen Finerman.
I think you should lighten up a little in Google, counsels Pete Najarian. As far as I’m concerned they own the search market, but wait for a dip.
-----------------------------------
PRECIOUS CARGO
The headline: Rail Shares, Transports Rally This Week On Better-Than-Expected CSX Earnings.
CSX Corp.