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As you might know, Verizon [VZ
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] stunned the Street on Tuesday (and dragged down the Dow) when they reported fewer-than-expected wireless customers. The results show that Verizon, the largest wireless carrier in the country as of January, is not immune to the recession and plunging global markets.
Now investors are keeping a close eye on AT&T [T
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]. Their wireless unit had kept posting healthy growth, helped in particular by the July release of Apple's [AAPL
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] second-generation iPhone. However, analysts expect that growth to have slowed down in the fourth quarter, even though AT&T did launch another high-profile smart phone, the BlackBerry Bold, in November.
What’s the wireless trade now?
I’m not excited by the wireless provides but I like the gadget names such as Palm [PALM
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] and Nokia [NOK
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], says Pete Najarian. They’ve probably been punished already. And also look at Juniper [JNPR
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] and Cisco [CSCO
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]for 3G buildout.
I’d look at Resarch In Motion [RIMM
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], adds Joe Terranova. And if you have the trade on I’d raise my stop.
In the emerging space I’m excited about wireless, adds Tim Seymour. Look at Turkcell [TKC
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], Vimpelcom [VIP
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], MBT [MBT
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] and Vodafone [VOD
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].
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Trader disclosure: On Jan. 27th, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour Owns (AAPL), (BAC), (EEM), (F), (FXI), (VIP); Seymour Is Short (SNE); Seymour's Firm Owns (MBT), (TRC); Finerman's Firm Owns (DNA) & (DNA) Call Spread; Finerman's Firm Owns (MSFT), (UNH); Finerman's Firm Is Short (IYR), (IJR), (IWM), (MDY), (SPY), (ANF), (COF), (USO), (TBT); Terranova Works For (VRTS); Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO; Terranova Owns (XBI), (DIS), (AMGN), (FCX); Terranova Owns (IBM) & (IBM) Call Spread; Najarian Owns (EEM) Call Spread; Najarian Owns (BMY) CAll Spread; Najarian Owns (FCX) & (FCX) Short Calls; Najarian Owns (GE) Put Spread; Najarian Owns (MSFT) & (MSFT) Short Calls; Najarian Owns (MS) & (MS) Short Calls/Put Spread; Najarian Owns (YHOO) Call Spread
Data is a real-time snapshot *Data is delayed at least 15 minutes