Read more:Strategic Investor Dennis Gartman Says Oil Goes To $100
AFTER HOURS ACTION:
The headline: Biogen Idec (BIIB) did not receive any definitive offers to buy company
Pete Najarian says evidently nobody is ready to spend $25 billion for Biogen.
No joy for me, adds Karen Finerman. I’m long options.
CAPTAINS OF INDUSTRY:
The headline: Industrial Conglomerate 3M (MMM) Jumps On 2008 Earnings, Revenue Forecast.
The industrial complex has looked pretty good to me since the summer, explains Guy Adami. He likes Honeywell (HON).
AFTER HOURS ACTION:
The headline: ADC Telecom (ADCT) Surges After Hours
Pete Najarian believes there’s a lot of growth ahead in wireless, hence the after hours action.
GE'S 2008 PROGNOSIS:
The headline: General Electric (GE) CEO Jeffrey Immelt Says He'll Be 'Disappointed' If Diagnostics Business Doesn't Double In 3-5 Years.
Guy Adami believes Laboratory Corp (LH) and Quest Diagnostics (DGX) are the trades because “they’re both stocks that could go” if GE is serious, he says.
The headline: San Francisco Offering Loans, Rebates To Encourage Solar-Panel Installations;
In energy, Guy Adami thinks the coal sector is in play.
NO FLOWERS FOR SALLIE:
The headline: Sallie Mae Plunges After Saying J.C. Flowers Will Not Make New Offer.
Karen Finerman says she’s not surprised by Flowers. However, Sallie Mae slashed profit forecasts for 4th quarter, she adds, and that’s not good.
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Trader disclosure: On Dec. 12, 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 (ATVI), (YHOO), (INTC); Najarian Owns (CSCO), (ADCT); Najarian Owns (GOOG) Options, (GS) Options, (TSO) Options, (YHOO) Options, (BIIB) Options; Finerman's Firm And Finerman Own (GS), (FTWR); Finerman's Firm Owns (VLO), (SUN), (YHOO), (TSO); Finerman's Firm Owns (MDY) Puts And Is Short (MDY); Finerman's Firm Is Short (SPY), (IJR), (IYR), (IWM), (MBI); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Finerman's Firm Owns (BIIB) Options; Finerman's Firm Owns Russell 2000 Puts; Finerman's Firm Owns S&P 500 Puts; CNBC Is A Service Of NBC Universal And Dow Jones; GE Is The Parent Company Of CNBC; NBC Universal Is The Parent Company Of CNBC; Vivendi Owns 20% Of NBC Universal, The Parent Company Of CNBC