×

Toyota President Agrees To Testify Before Congress

Toyota president Akio Toyoda says he will testify at a congressional hearing next week on the automaker's recalls.

Toyoda said in a statement he looks "forward to speaking directly with Congress and the American people."

Toyoda is the grandson of the Japanese automaker's founder. He had said he wasn't planning to attend the hearings but would consider appearing before Congress if invited.

Toyota has recalled 8.5 million vehicles globally to address problems with accelerator pedals and brakes. The executive's appearance before Congress is expected to raise the profile of the House Oversight and Government Reform Committee hearing, scheduled for Wednesday.

What’s the trade?

I just have to believe that Ford wins to this, speculates Guy Adami. I'd establish a position around $10.75.


______________________________________________________
Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send those e-mails to fastmoney@cnbc.com.

Trader disclosure: On February 18th, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Kaminsky Owns (EPV); Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Grasso Owns (ABK), (AAPL), (ASTM), (BAC), (BGP), (C), (COST), (CSCO), (FAZ), (PFE), (PRST), (WMT), (V); Finerman's Firm Owns (IBB); Finerman's Firm Owns (XBI); Finerman's Firm And Finerman Own (WFC) Preferred; Finerman's Firm Owns (BAC), (BAC) Leaps; Finerman Owns (BAC), (BAC) Preferred; Finerman's Firn And Finerman Own (JPM)
Finerman's Firm Is Short (IJR), (SPY), (IWM), (MDY), (USO)<; Finerman Owns (AAPL); Finerman's Firm Owns (BAC) Leaps, (BAC); Finerman Owns (BAC) Preferred, (BAC); Finerman's Firm And Finerman Own (GGWPQ), (GOOG), (JPM), (WFC); Terranova Owns (JPM), (RIMM), (IBM), (QCOM), (GOOG), (EMC), (AAPL), (DELL), MSFT); Terranova Is Long March 2010 Crude Oil Futures; Terranova Is Long April 2010 Crude Oil Futures; Terranova Is Long December 2010 Crude Oil Futures; Terranova Is Long December 2011 Crude Oil Futures; Terranova Is Long December 2012 Crude Oil Futures; Kelly Owns (HOV) Calls; Kelly Owns (ELX) Calls; Kelly Owns (FXE) Puts

For JoeTerranova
Terranova Works For (VRTS)
Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd.
Virtus Investment Partners Owns More Than 1% Of (CLB)
Virtus Investment Partners Owns More Than 1% Of (DLR)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (XLP)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of (SKT)

For Steve Grasso
Stuart Frankel & Co. Inc And Its Partners Own (AIZ)
Stuart Frankel & Co. Inc And Its Partners Own (ABX)
Stuart Frankel & Co. Inc And Its Partners Own (CUBA)
Stuart Frankel & Co. Inc And Its Partners Own (GERN)
Stuart Frankel & Co. Inc And Its Partners Own (GLG)
Stuart Frankel & Co. Inc And Its Partners Own (HSPO)
Stuart Frankel & Co. Inc And Its Partners Own (NWS.A)
Stuart Frankel & Co. Inc And Its Partners Own (NXST)
Stuart Frankel & Co. Inc And Its Partners Own (NYX)
Stuart Frankel & Co. Inc And Its Partners Own (PDE)
Stuart Frankel & Co. Inc And Its Partners Own (PRST)
Stuart Frankel & Co. Inc And Its Partners Own (RDC)
Stuart Frankel & Co. Inc And Its Partners Own (ROK)
Stuart Frankel & Co. Inc And Its Partners Own (TLM)
Stuart Frankel & Co. Inc And Its Partners Own (TOL)
Stuart Frankel & Co. Inc And Its Partners Own (XRX)
Stuart Frankel & Co. Inc And Its Partners Own (SDS)
Stuart Frankel & Co. Inc And Its Partners Are Short (QQQQ)
Stuart Frankel & Co. Inc And Its Partners Are Short (CL)

For Brian Kelly
Kanundrum Capital Owns (VMW)
Kanundrum Capital Owns (QLGC)
Kanundrum Capital Owns (BRCM)
Kanundrum Capital Owns (EWP)
Kanundrum Capital Owns (NBG)
Kanundrum Capital Owns (GDXJ)
Kanundrum Capital Owns (GLD)
Kanundrum Capital Is Long U.S. Dollars
Kanundrum Capital Is Short U.S. Treasury Futures
Kanundrum Capital Is Short (FCX)
Kanundrum Capital Is Short (EWY)

For David Trone
Macquarie Capital Has Entered Into An Investment Banking Relationship With (C) In Past 12 Months
Macquarie Capital Has Acted As Co-Manager In An Equity Offering By (C) In Past 12 Months
Macquarie Capital Or Affiliate Has Received Compensation For Investment Banking Services From (C) In Past 12 Months

For Mike Khouw
Cantor Fitzgerald & Co. Is A Market Maker In (AAPL)
Cantor Fitzgerald & Co. Is A Market Maker In (BAC)
Cantor Fitzgerald & Co. Is A Market Maker In (C)
Cantor Fitzgerald & Co. Is A Market Maker In (DELL)
Cantor Fitzgerald & Co. Is A Market Maker In (F)
Cantor Fitzgerald & Co. Is A Market Maker In (GENZ)
Cantor Fitzgerald & Co. Is A Market Maker In (GILD)
Cantor Fitzgerald & Co. Is A Market Maker In (GOOG)
Cantor Fitzgerald & Co. Is A Market Maker In (GS)
Cantor Fitzgerald & Co. Is A Market Maker In (IBM)
Cantor Fitzgerald & Co. Is A Market Maker In (JPM)
Cantor Fitzgerald & Co. Is A Market Maker In (LGF)
Cantor Fitzgerald & Co. Is A Market Maker In (MS)
Cantor Fitzgerald & Co. Is A Market Maker In (MSFT)
Cantor Fitzgerald & Co. Is A Market Maker In (QQQQ)
Cantor Fitzgerald & Co. Is A Market Maker In (SPY)
Cantor Fitzgerald & Co. Is A Market Maker In (WFC)
Cantor Fitzgerald & Co. Is A Market Maker In (XLF)
Cantor Fitzgerald & Co. Is A Market Maker In (YHOO)





CNBC.com with wires