ANALYZE THIS: RESEARCH IN MOTION
Shares of BlackBerry maker Research In Motion shot higher on Friday after analysts at UBS Investment Research upgraded the stock and said the company stands to gain from the corporate side of its business once the economy rebounds.
UBS analysts Maynard Um tells Fast Money that RIM faces little competition in the "enterprise" market -- made up of large corporations and government departments -- and even though this market is pressured today, it will be a source of strength for RIM when the economy firms up.
I understand what Maynard Um is saying, but personally I wouldn't chase this stock, counsels Guy Adami. It's doubled since the beginning of March.
CHART OF THE DAY: CHDN HITTING BIG RESISTANCE AT $35
Despite the momentum generated by the Kentucky Derby this weekend, shares of Churchill Downs are struggling to get out of the gate. It seems this stock can’t get past $35, a point of extreme resistance.
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Trader disclosure: On May 1st, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Seymour Owns (AAPL), (BAC), (EEM), (FXI), (PBR), (DRYS); Finerman Owns (MA); Finerman's Firm Owns (AXP), (PBR), (RIG), (UNH), (TBT), (KFN), (ADP), (XPI), (IBB), (CSCO); Finerman's Firm And Finerman Own (TBT); Finerman's Firm Owns (BAC) Preferred; (C) Preferred; Finerman's Firm Owns (MSFT) & (MSFT) Put Spread; Finermans Firm Is Short (IJR), (MDY), (SPY), (IWM), (USO); Terranova Owns (IBM), (MS), (BP), (XOM), (HES), (X)
Terranova Owns (DIS) Calls; Terranova Owns (JPM) & (JPM) Calls; Terranova Owns (JOYG) & (JOYG) Calls; Terranova Owns (INTC) & (INTC) Calls; Terranova Owns (BRCM) & (BRCM) Calls; Terranova Owns (WYNN) And Is Short (WYNN) Calls
Terranova Works For (VRTS); Terranova Is Chief Alternatives Strategist Of Virtus Investment Partners, Ltd.; Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO
Virtus Diversifier PHOLIO Owns (IGE), (DBC), (DBV)
Virtus Investment Partners Owns More Than 1% Of (ABD),(ARE), (CAL), (DLR), (EPR), (EXR), (IGE), (MEE), (DBC), (DBV), (DBA), (SKT), (UA), (CLB), (WBMD); Virtus Investment Partners Owns More Than 1% Of St Mary Land & Exploration Co; Virtus Investment Partners Owns More Than 1% Of Seagate Tax Refund Rights; Terranova Owns June Crude Oil And Is Short September Crude Oil
UBS Securities LLC has received compensation from (MOT), (AAPL) In Past 12 Months
UBS Securities LLC Is Or In Past 12 Months Has Been A Client Of UBS Securities LLC (Investment Banking Services, Non-Investment Banking Securities-Related Services, Non-Securities Services)
(AAPL) Is Or In Past 12 Months Has Been A Client Of UBS Securities LLC (Non-Securities Services)
For Maynard Um:
UBS Has Received Compensation From (AAPL) & (MOT)
(AAPL) & (MOT) Have Been A Client Of UBS
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