SMART PHONE, STUPID COMPANY?
The headline:Palm’s (PALM) New $99 Centro Smart Phone May Mean Company Getting Back on Track
Jeff Macke is reversing his position and he’s officially ready to get long Palm. The company hasn’t come up with anything relevant in years and has been nothing but a gift to the shorts, he says. But since it dumped its ill-conceived Folio product and introduced the Centro, “going where the other guy isn’t,” Jeff thinks it might be time for Palm to turn around. “This stock is going higher,” he says.
FAST MONEY WORLD: EMERGING MARKETS BOOMING:
The headline:Shenhua Energy, Largest Chinese Coal Producer, Raises $8.9B in Shanghai Listing; PetroChina (PTR) May Raise $5B in Shanghai Share Sale; Chinese Government to Formally Establish Sovereign Wealth Fund
“China is not over,” Pete Najarian says. The iShares FTSE/Xinhua China 25 Index (FXI), is on fire but be careful, he stresses. The index is heavily weighted in financials and telecom – which happen to also be hot – but that is a heavy lack of diversification.
Guy Adami would take some profits in a name like China Mobil (CHL), which is up a staggering 68% just since last month.