×

Could Apple Lift Market?

graphic_word_ofthe_street.jpg

AFTER HOURS: APPLE (AAPL) EARNINGS

The headline: Apple Trounced Estimates Monday Up 67%; Knocking The Cover Off The Ball.

Jeff Macke says Mac sales performed well and that speaks volumes about the company long-term.

Morgan Stanley is now projecting $225 price traget for AAPL stock adds Pete Najarian. He recommends owning the stock at any pull back.

Symbol
Price
 
Change
%Change
VOW3
---

AFTER HOURS: AMERICAN EXPRESS (AXP) EARNINGS

The headline: AXP Beat Revenue Slightly But Stock Higher After Hours.

Karen Finerman likes AXP and recommends owning it on a $2 or $3 pull back.

Guy Adami agrees.

AFTER HOURS: TEXAS INSTRUMENTS (TXN)

The headline: Texas Instruments Revenue Drops to $3.6 Billlion, Matching Estimates.

Pete Najarian feels TXN is not run as well as AAPL.

Guy Adami’s trade is buying Intel (INTC).

Symbol
Price
 
Change
%Change
VOW3
---
INTC
---
TXN
---

TRIUMPHANT TURNAROUND:

The headline: Dow Plunges More Than 100 Points, Only to Rebound and Finish 50 Points Higher.

The Street suffered through a volatile day as weak commodity and drug stocks battled strong tech and bank plays, explains Dylan Ratigan. Also, the NASDAQ rallied 1% as investors flooded into tech names after weakness last week he added.

Pete Najarian anticipates big swings over the next few weeks.

Symbol
Price
 
Change
%Change
S&P 500
---

CHART OF THE DAY: BUILDERS COME BACK:

The headline: Homebuilders ETF (XHB) Closes Up 3% After Dramatic Midday Turnaround.

Private equity is expected to buy Goodman Global (GGL), the 2nd-largest U.S. maker of air conditioners, explains Karen Finerman. However, she says the trade is MDC Holdings (MDC) because she feels they have a good balance sheet as compared to the industry.

Symbol
Price
 
Change
%Change
MDC
---

BREAKING NEWS: TARGET (TGT)

The headline: Target Reduces Forecast For Same-Store Sales.

Karen Finerman says sales are now expected to come in at 2%-4% when they were expected to come in at 3%-5%

Jeff Macke says this raises a big red flag for TGT, however he adds they didn’t go negative.

Symbol
Price
 
Change
%Change
TGT
---

COLD COMMODITIES:

The headline: Crude Oil, Gold Both Drop 1% As Dollar Strengthens.

Crude oil finished down 1.2% at $87.56; gold dropped 1.1% to $755.80 and investors fled Freeport-McMoRan (FCX) and gold stocks explains Guy Adami. He’s bearish on gold and oil.

Pete Najarian likes the oil services sector because he doesn’t feel they are dependent on the price of crude.

Symbol
Price
 
Change
%Change
FCX
---
Z2152
---
OIH
---

MERCK SMIRKS AS SCHERING PLOWED:

The headline: Merck (MRK) Earnings Top Expectations On Strong Sales Of Singulair, Vaccines.

Jeff Macke likes MRK and adds that Schering-Plough (SGP) shares plummetted 14% after profit and revenue missed estimates explains Jeff Macke.

Pete Najarian cautions investors to watch the P/E levels on all these stocks.

Guy Adami prefers Pfizer (PFE) on a valuation basis.

Symbol
Price
 
Change
%Change
MRK
---
PFE
---

______________________________________________________
Got something to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap! Prefer to keep it between us? You can still send questions and comments to fastmoney@cnbc.com.

Trader disclosure: On Oct 22, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (HAS), (INTC), (ATVI); Najarian Owns (AAPL), (GOOG), (NDAQ), (RACK), (YHOO) (CY); Finerman Owns (GS), (COV); Finerman's Firm Owns (ASD), (CTX), (MO), (NYX), (NMX), (WMT), (MSFT), (MDC), (TGT); Finerman's Firm And Finerman Own (HD), (KFT); Finerman's Firm Owns S&P 500 Puts; Finerman's Firm Owns Russell 2000 Puts