Fast Money: Rapid Recap - The first and only official show synopsis
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Google a Buy After It Drops Further, Pros Say
Producer
Google [GOOG
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] shares dropped in after-market trading on weak earnings, leading “Fast Money” pros to take a pass on the stock — for now.
Trader Joe Terranova noted the stock was falling toward the supporting moving averages, the 200-day being $562 per share.
“I wouldn’t buy the stock here,” he said. “Don’t own it. I wouldn’t buy it here.”
Google closed up 1 percent at $639.57 but traded down 9 percent at $582.20 shortly after 5:30 pm ET.
Others saw opportunity after a cooling-off period.
“Maybe we’ll see a day or two of further weakness,” trader Guy Adami said, looking for a price around $560. If that happens, “I think you grab it with both hands, frankly.”
Pete Najarian of OptionMonster.com was also watching the pull-back, looking to own it at $580.
“I think that would be an absolute buy,” he said. “I don’t know if you’ll get a chance to get it at $560.”
Android was a concern for Jon Najarian, who noted that Google gets nothing from its smartphone platform except potential ad revenue. Apple, meanwhile, has recurring revenue in its iPhone and iPad products.
“I don’t think that the Android story is as big a driver for Google, as a lot of people had thought, and tonight’s proof of that,” he said.
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Trader disclosure: On Jan. 19, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders: Terranova is long VRTS; Terranova is long IBM; Terranova is long LQD; Terranova is long SU; Terranova is long SJM; Terranova is long JNPR; Terranova is long SBUX; Terranova is long DECK; Terranova is long WFM; Terranova is long OXY; Terranova is long TRLG; Terranova is long CSCO; Terranova is long BRCM; Terranova is long MUB; Terranova is long EMC; Terranova is long AXP; Terranova is long NFLX; Terranova is long F; Terranova is long APC; Terranova is long XOM; Terranova is long STT; P. Najarian is long AAPL; P. Najarian is long BAC calls; P. Najarian is long C; P. Najarian is long INTC; P. Najarian is long YHOO; P. Najarian is long MSFT; P. Najarian is long GE; Seymour is long AAPL; Seymour is long BAC; Seymour is long MSFT;
Adami owns C; Adami owns GS; Adami owns INTC; Adami owns AGU; Adami owns MSFT; J. Najarian owns AAPL; J. Najarian owns AKS; J. Najarian owns GS; J. Najarian owns NFLX; J. Najarian owns CDR; J. Najarian owns JNPR; J. Najarian owns EBAY; J. Najarian owns MSFT; J. Najarian owns KBH; J. Najarian owns XHB; J. Najarian is long INTC calls; J. Najarian is long GOOG calls and puts
For Mike Khouw
No disclosures
For Brian Marshall
No disclosures
For Greg Abella
No disclosures
For Dan Berenbaum
INTEL (INTC): The Primary Analyst also certifies that there has not been, is not, and will not be direct or indirect compensation from MKM Partners LLC or the subject company(ies) related to the specific recommendations or views in this report.
For Jason Helfstein
Oppenheimer & Co. Inc. makes a market in the securities of GOOG.



