LinkedIn, Baker Hughes Plus Other Pops & Drops

Wednesday, 21 Mar 2012 | 1:40 PM ET

Find out what’s going up, what’s going down and whether our traders would double down, fade or run in the other direction!

LinkedIn popped .
The catalyst: Goldman Sachs upgraded Linkedin to a "buy" rating, citing factors such as strong demand for its hiring-related services.
The trade: "On a valuation basis it’s expensive," says trader Brian Stutland. "I'd stay away."

Baker Hughes dropped .
The catalyst: "Baker Hughes said profit margins will contract from 19% to 13%," explains Joe Terranova.
The trade: "Although the stock was $80 in July and now trades around $46, I’d stay away," Terranova counsels.

Chesapeake dropped .
The catalyst: "It’s a play on the Utica shale, (which is buried below the Marcellus shale), explains trader Steve Grasso. Many think it contains oil and natural gas liquids.
The trade: "There are other ways to leverage it. I’d rather do it with CRZO," says Grasso.

Deutsche Bank dropped
The catalyst: According to the WSJ, the bank said in its annual report that it faces nearly $4 billion in "remote" legal risks related to litigation in the U.S. and elsewhere.
The trade: "I’m short DB," reveals trader Steve Cortes. "I prefer US financials. I’m long Goldman and short DB against it."

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Trader disclosure: On Mar 21, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders Joe Terranova is long VRTS; Joe Terranova is long NXPI; Joe Terranova is long CNX; Joe Terranova is long IBM; Joe Terranova is long MCD; Joe Terranova is long EMC; Joe Terranova is long MSFT; Joe Terranova is long JOY; Joe Terranova is long OXY; Joe Terranova is long LQD; Joe Terranova is long POT; Joe Terranova is long TBT; Joe Terranova is long LPX; Joe Terranova is short APRIL GOLD FUTURES; Joe Terranova is short MAY SILVER FUTURES; Brian Stutland is long AAPL; Brian Stutland is long JPM; Brian Stutland is long XLF; Steve Cortes is long SO; Steve Cortes is long DEO; Steve Cortes is long PPH; Steve Cortes is long GS; Steve Cortes is short DB; Steve Cortes is short LVS; Steve Cortes is short AUD; Steve Cortes is short SILVER

For Brian Stutland
Market Maker Holding hedged positions in VIX futures and options

For Pete Nesvold

For Rob Cihra
Evercore or affiliate expects compensation for investment services from HPQ
Evercore or affiliate has a relationship with DELL

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