Shares in the preppy clothier Ralph Lauren plummeted about 18 percent on Wednesday after it reported disappointing quarterly earnings. Its stock fell to about $140 per share.
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Finerman and Adami said they would wait before making any quick decisions on the stock.
Guy Adami is long CELG, EXAS and INTC. Guy Adami's wife, Linda Snow, works at Merck.
Karen Finerman is long BABA, BAC, C, PLCE, CVS, FINL, FL, FRO, GOOG, GOOGL, KORS, M, MTW and NAP. She is short DIA and BABA,. Her firm is long AAPL, BAC, PLCE, C, CMLS, CVS, DIS, DRI, FBT, FINL, FL, GOOG, GOOGL, GPS, IBB, JPM, KORS, M, MTW, NNA, NAP, PSG, SDRL, SUNE and XBI. Her firm is long calls C, DIS, GPS, JPM, SDRL and SUNE. Her firm is short SPY, USO and IWM. Karen Finerman is on the board of GrafTech International.
Dan Nathan is long YUM Feb 72.50/68 put spread, TWTR, TWTR Feb 37.50 puts, BBRY June call spread, XLU March 48 / 44 put spread, QQQ Feb 101/ 95 put spread, XRT March 90/85 put spread and DIS Feb 92.50/87.50 put spread. He is short TWTR June 52.50 calls. Today, he closed AAPL Feb put spreads.
Brian Kelly is long BTC=, US dollar, CTRL calls, HYG puts, TWTR call spreads and BBRY call spreads. He is short EWA, EWG, EWQ, EWZ, EWW, Australian dollar, British pound, Canadian dollar and yuan.