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Stocks Recover In Final Hour

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STOCKS RECOVER IN FINAL HOUR

The headline: Bank Shares Stem Losses, Helping S&P 500 Recover in Final Hour to Finish Higher.

Doubts about the Fed plan continued to weigh on the market Thursday while former Fed Chairman Greenspan put chances of a recession at 50%, explains Dylan Ratigan.

Pete Najarian feels the market remains a global story and companies with international exposure created a tailwind for traders.

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NASDAQ
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S&P 500
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STOP LEANING ON LEHMAN?

The headline: Lehman, Down 21% This Year, Falls Just 45 Cents on Better-Than-Expected-Earnings.

Lehman (LEH) offset most of a $3.5 billion write-down through hedging, explains Dylan Ratigan. In a Fast Money trade school moment, Ratigan explains that some investment banks have created something called a “Tier 3” asset class which is something they own – but for which there is no market. It prevents them from having to write-down as much, he adds.

Level 3 assets at LEH have increased to 13% of inventories says Karen Finerman. She’s outraged because it doesn’t have meaning to her.

LEH bought themselves another quarter adds Guy Adami. That’s all.

Pete Najarian likes Goldman Sachs (GS) and thinks their equities trading desk made “a heck of a lot of money.” However, Goldman’s level 3 assets will come under scrutiny too, he adds.

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GS
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WIND IN THE SALES

The headline: November Retail Sales Jump A Better-Than-Expected 1.2%: Says Commerce Dept.

November retail sales rose twice as much as expected explains Jeff Macke. He likes Costco (COST) on a dip.

Guy Adami reminds the panel not to overlook Mastercard (MA).

Look at Amazon (AMZN) and eBay (EBAY) adds Pete Najarian.

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COST
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EBAY
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MA
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MISTER SOFTEE HANGS TOUGH

The headline: Microsoft (MSFT) Jumps After JPMorgan Boosts 2008 Profit Estimate.

Pete Najarian likes that MSFT is competing with VMWare and that demand is strong for its Zune 80.

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MSFT
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FDA DENIES MERCK REQUEST

The headline: FDA Panel Rejects Merck’s (MRK) Bid To Sell Anti-Cholesterol Drug Over Counter

CNBC’s Mike Huckman explains the vote was 10-2 against the drug Mevacor because the panel worries Americans might not use it properly without a physician’s oversight.

Pete Najarian recommends buying Merck stock on the dip.

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MRK
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STAKES ON A PLANE

The headline: German's Lufthansa To Buy 19% Stake In JetBlue (JBLU) For $300M.

Guy Adami recommends selling the rally.

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JBLU
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> Read more: "JetBlue CEO On Lufthansa"

NOBODY LOVES BIOGEN

The headline: Biogen Idec (BIIB) Plunges After Dropping Plan To Sell Itself.

Pete Najarian thinks Biogen is a “great company” and he recommends buying the dip. It should be a $58-$62 stock, he adds.

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DTST
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Trader disclosure: On Dec. 13, 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 (SWY), (INTC), (EMC), (YHOO), (ATVI); Najarian Owns (BIIB), Najarian Owns (BSC) Options, (GOOG) Options, (TGT) Options, (XMSR) Options, (YHOO) Options; Finerman's Firm Owns (GS), (WMT); Finerman's Firm Is Short (IWM), (IYR), (SPY), (IJR), (MBI); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Finerman's Firm Is Short (MDY) And Owns (MDY) Puts; Finerman's Firm Owns (MSFT) Options; Finerman's Firm Owns S&P 500 Puts; Finerman's Firm Owns Russell 2000 Puts