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: Crude Oil Sheds 2.6% to $115.63 as Dollar Gains; Commodity Prices Drop Most in Five Weeks
Commodities slumped on Tuesday as speculation about a possible pause in U.S. interest rate cuts strengthened the dollar, hammering almost all energy, agriculture and metals markets. Crude oil futures settled 3 percent down in New York after falling below $115 a barrel at one point, nearly $5 off the previous session's record highs.
It’s hard to say if the dollar has bottomed but it is definitely showing an improvement, Karen Finerman said.
Pete Najarian said it’s clear there’s a commodities rotation occurring as investors take some gains, but it’s probably just a small pullback in the scheme of things. On the oil front, he said he noticed heavy put buying in the U.S. oil fund [USO
Loading...
(%)
].
Guy Adami recommended Baker Hughes [BHI
Loading...
(%)
] as an oil trade.
AFTER HOURS ACTION: CITIGROUP
The headline: Citigroup [C
Loading...
(%)
] Begins Offering of $3B in Common Stock
The troubling thing about this to Karen Finerman is that the company didn’t say anything about having to raise more capital.
But Guy Adami wasn’t surprised. They all say one thing and do another, he said.
And $3 billion is nothing to Citi, according to Jeff Macke.
AG-GRAVATED ASSAULT
The headline: AGCO’s [AG
Loading...
(%)
] Disappointing Full-Year Forecast Hammers Agriculture Stocks; With the Dollar Bottoming, Is the Amazing Ag Trade Done?
The biggest risk to the ag trade is if there is a big groundswell against ethanol, Karen Finerman said. The stocks are all more likely to trade down on that than anything that happens in the currency markets.
Pete Najarian disagreed, saying that ethanol is far from the driving force behind the successful ag stocks – they’re going higher because of global demand increasing, and that doesn’t look like it’s likely to stop, he said.
MERCK PLUMMETS 9% ON DRUG REJECTION
The headline: Merck [MRK
Loading...
(%)
] Shares Fall After FDA Rejects Experimental Cholesterol Drug
European Union regulators recently gave their blessing to Merck’s drug and it was a surprise that the FDA rejected it, Pete Najarian said. On the bad news, Pete thinks MRK stock is getting extremely cheap at these levels.
Jeff Macke’s advice to Pete? “Surrender on Merck already.” The company keeps getting bad news after bad news. This is another big hit to its pipeline.
On biotech, Guy Adami said Genentech [DNA
Loading...
(%)
] has pulled back to attractive levels – levels lower than where it was when it got the news that Avastin was approved for breast cancer treatment. It’s capitulation time in DNA, Adami said.
BEST VIDEO GAME EVER
The headline: Take-Two [TTWO
Loading...
(%)
] Releases New ‘Grand Theft Auto’ Installment to Glowing Reviews
Michael Pachter, an analyst for Wedbush Morgan Securities, said he thinks GTA4 could be the “best game of all time” with the highest ratings, best reviews and the best sales. But that doesn’t mean it will force Electronic Arts [ERTS
Loading...
(%)
] to increase its hostile takeover bid for the game’s proprietor, Take-Two.
GTA4 won’t be a game changer no matter how well it does, Pachter said, because TTWO is still mismanaged. Even if the game surpasses Halo as the best-selling video game of all time, as Pachter suspects it could, that won’t be enough for ERTS to suddenly want to increase its $26 per share bid for TTWO.
Check Out These Other Posts |
______________________________________________________
Got something to to say? Send us an e-mail at and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send those e-mails to .
Trader disclosure: On Apr. 29, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (INTC), (ATVI), (MSFT), (DIS); Najarian Owns (AAPL), (TSO), (YHOO), (XLF);Najarian Owns (CHK) Calls, (MSFT) Calls, (POT) Calls; Finerman's Firm Owns (GE); Finerman's Firm And Finerman Own (FLS); Finerman's Firm Owns (MO), (MSFT), (PM), (TSO) (VLO); Finerman's Firm Is Short (GLD), (IYR), (MDY), (IWM), (RTY), (SPY), (COF), (SPG); Finerman's Firm Owns A Bullish Call Spread In (YHOO) And Owns (YHOO) Stock; Finerman's Firm Is Short The British Pound; NBC Universal Is The Parent Company Of CNBC; GE Is The Parent Company Of CNBC
MICHAEL PACHTER
Wedbush Morgan Securities Is A Market Maker In (ERTS)
Wedbush Morgan Securities Is A Market Maker In (TTWO)
Del.icio.us
Digg It
Data is a real-time snapshot *Data is delayed at least 15 minutes