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Halftime: Is the Street Sacking Goldman Sachs?

Does Wall Street have it in for Goldman Sachs?

Over the past week to 10 days, a slew of analysts have downgraded the investment firm and/or cut estimates. Just consider the timeline below:

Oct. 1: Credit Suisse lowers price target, estimates
Oct. 1: Wells Fargo lowers estimates
Sept. 30: Bernstein lowers estimates
Sept. 29: William Blair lowers estimates
Sept. 23: Rochdale securities lowers estimates
Sept. 22: Deutsche bank lowers estimates

Should you buy the weakness or run for the hills?

Jon Najarian, co-founder of optionMONSTER.com, said trading volumes during the month of September were "phenomenal." He thinks that alone is reason enough to own GS.

Looking at the banks broadly, it seems that estimates have been taken down so far we may see out performance, said Stuart Frankel's Steve Grasso. He expected volumes to pick up into year's end and thinks we could likely see a chase for performance after the election.

Watch the video to see the traders' complete conversation on Goldman Sachs.

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ANALYST: WITH LEO APOTHEKER, H-P 'GETTING SERIOUS ABOUT SOFTWARE'

Hewlett-Packard was the Dow Jones Industrial Average's worst performing stock in the in midday trading Friday. The technology company ended speculation on who would succeed CEO Mark Hurd when it named former SAP CEO Leo Apotheker H-P's new chief executive Thursday.

With H-P's shares slipping Friday, it seems that so far, Apotheker has failed to gain investor confidence. But Peter Goldmacher, an analyst at Cowen & Co., said Apotheker is being unfairly critized.

Apotheker is a 20-year veteran of German software giant SAP , said Goldmacher, yet most associate him with "when the business was in a tailspin" in 2008-2009. While he was CEO when the company went through those hardtimes, Goldmacher pointed out that Apotheker was head of sales from 2002-2007 and grew a 2.3 billion euro business by 8 percent organically year-over-year.

"This is a guy who knows how to sell and it's a little bit unfair to blame him for what to SAP and certainly SAP stock when he was CEO," said Goldmacher. "For me, this signals H-P is getting very serious about software, which I think is long past due."

Asked by CNBC's Melissa Lee if Apotheker might attempt a merger with SAP, Goldmacher said the move would make sense, but thinks it wouldn't happen anytime soon. He added that Apotheker's leadership at H-P puts it in a better position to compete with Oracle further down the road.

Watch the video to see the full interview with Goldmacher on Leo Apotheker—it starts at 2:05.

What's the Trade?

Joe Terranova, chief market strategist at Virtus Investment Partners, thinks Apotheker "cleary does not have any IT-making experience in terms of equipment." He maintains that IBM remains the trade off of the Hurd departure.

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CALL TO THE FLOOR: IMAX

Shares of IMAX jumped in midday trading Friday after the entertainment comapny announced it will add up to 25 new theatres around the US. To talk about that expansion and more, CEO Richard Gelford stopped by the "Fast Money" studios. Watch the video to see the complete interview.

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CALL THE CLOSE

Patty Edwards, chief investment officer at Trutina Financial, likes TAL International Group on Chinese strength. The Purchase, N.Y.-based company leases intermodal containers and chassis.

Jon Najarian, an options trader and co-founder of optionMONSTER.com, thinks the market could push higher Friday.

"The market should have been down a lot more off ISM," said Steve Grasso of Stuart Frankel, adding that the markets could add gains.

Joe Terranova of Virtus Investment Partners thinks oil could climb to $90.

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Trader disclosure: On Oct. 1, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Grasso owns (ASTM), (BA), (BAC), (C), (CSCO), (JPM), (LPX), (MO), (MOT), (NDAQ), (PFE), (PRST); Terranova Owns (AAPL), (APA), (ARUN), (C), (EOG), (FTO), (HES), (IBM), (JOYG), (NBR), (OIH), (ORCL), (OXY), (PEP), (POT), (RIG), (RIMM), (RSH), (SU), (UPL), (VRTS), (XBI)

For Steve Grasso
Stuart Frankel & Co and it’s partners own (AMGN)
Stuart Frankel & Co and it’s partners own (COG)
Stuart Frankel & Co and it’s partners own (CUBA)
Stuart Frankel & Co and it’s partners own (GERN)
Stuart Frankel & Co and it’s partners own (HPQ)
Stuart Frankel & Co and it’s partners own (HSPO)
Stuart Frankel & Co and it’s partners own (MERC)
Stuart Frankel & Co and it’s partners own (NWS.A)
Stuart Frankel & Co and it’s partners own (NYX)
Stuart Frankel & Co and it’s partners own (PDE)
Stuart Frankel & Co and it’s partners own (PFE)
Stuart Frankel & Co and it’s partners own (PRST)
Stuart Frankel & Co and it’s partners own (RDC)
Stuart Frankel & Co and it’s partners own (TLM)
Stuart Frankel & Co and it’s partners own (XRX)
Stuart Frankel & Co and it’s partners own (SDS)
Stuart Frankel & Co and it’s partners are short (QQQQ)

For Patty Edwards
Edwards owns (HPQ) for clients
Edwards owns (AAPL) for clients
Edwards owns (ORCL) for clients
Edwards owns (JPM) for clients
Edwards owns (GLD) for clients
Edwards owns (SLV) for clients
Edwards owns (FCX) for clients
Edwards owns (PGM) for clients

For Joe Terranova
Terranova is chief market strategist of Virtus Investment Partners, LTD.
Virtus Investment Partners own more than 1% of (ABAX)
Virtus Investment Partners own more than 1% of (ALK)
Virtus Investment Partners own more than 1% of (AMKR)
Virtus Investment Partners own more than 1% of (CASS)
Virtus Investment Partners own more than 1% of (CSVI)
Virtus Investment Partners own more than 1% of (IGE)
Virtus Investment Partners own more than 1% of (LDR)
Virtus Investment Partners own more than 1% of (LPHI)
Virtus Investment Partners own more than 1% of (MGRC)
Virtus Investment Partners own more than 1% of (NRCI)
Virtus Investment Partners own more than 1% of (DBV)
Virtus Investment Partners own more than 1% of (XLB)
Virtus Investment Partners own more than 1% of (XLP)
Virtus Investment Partners own more than 1% of (XLY)
Virtus Investment Partners own more than 1% of (XLF)
Virtus Investment Partners own more than 1% of (XLI)
Virtus Investment Partners own more than 1% of (XLU)
Virtus Investment Partners own more than 1% of (SUBK)
Virtus Investment Partners own more than 1% of (WDFC)
Virtus Investment Partners own more than 1% of (YDNT)
Virtus Investment Partners own more than 1% of (DRYS)

For Peter Goldmacher
***No Disclosures***

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