What’s the trade?
Guy Adami says a lot of investors will probably rush in a buy RIM thinking it’s a value on the sell-off. But, he adds, “I wouldn’t touch it on Friday. I’d let it shake out.”
Steve Cortes is a contrarian and thinks the Street is largely so negative on the stock that he might be one of those investors who steps in on Friday. “I might step in and try and buy especially if it trades down to $55. I do find the valuation compelling,” he says.
Joe Terranova doesn’t see any trade. “I wouldn’t buy it but I wouldn’t go short either.”
Tim Seymour agrees with Joe Terranova. However Seymour also thinks RIM may pick up some momentum with the launch of their tablet.
Brian Kelly takes a different tack. He says, if investors are bullish on RIM on expectations of strong growth in emerging markets, then he thinks a better way to play it is long Vodafone.
For more coverage of RIM earnings click here
AFTER HOURS ACTION: ORACLE
Shares of Oracle traded somewhat flat in extended trade despite relatively strong earnings.
The business software giant run by Silicon Valley billionaire Larry Ellison said it earned an adjusted profit of 54 cents a share in its fiscal third quarter. That compares with earnings of 38 cents a share a year earlier.
Non-GAAP sales at Oracle jumped to $8.81 billion in the most recent quarter. Sales came in at $6.469 billion a year ago.
The company was seen turning in a profit of 50 cents a share, with sales of $8.669 billion, according to a consensus estimate compiled by Thomson Reuters.
Also, Oracle boosted its quarterly dividend to 6 cents a share, up from 5 cents a share. The increase of 20 percent matched a recent increase by business software rival SAP.
New software license sales, which generate high-margin, long-term maintenance contracts and are a good gauge of the company's future profits, rose 29 percent to $2.2 billion. That figure was above Oracle's own forecast.
What’s the trade?
Joe Terranova looks at Oracle is an alternative to H-P and says “it’s clearly a better alternative.” He thinks it should be a $38 or $39 stock.
Guy Adami says, “the low hanging fruit is over but I do believe it has further upside as well.”
Tim Seymour is more cautious. “It’s not cheap here and this stock is a name that comes with huge expectations,” he says.
For more coverage of Oracle earnings click here
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Trader disclosure: On March 24, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Guy Adami is Long (AGU); Guy Adami is Long (MSFT); Guy Adami is Long (C); Guy Adami is Long (INTC); Guy Adami is Long (NUE); Guy Adami is Long (GS); Guy Adami is Long (BTU); Steve Cortes is Long (TM)p; Steve Cortes is Long (EXC); Steve Cortes is Long (GS); Steve Cortes is Long (SO); Steve Cortes is Short (F); Steve Cortes is Short (BAC); Steve Cortes is Short (DBA); Steve Cortes is Short Natural Gas; Steve Cortes is Short Silver; Steve Cortes is Short Wheat; Steve Cortes is Short Corn; Steve Cortes is Short Beans; Steve Cortes is Short Japanese Yen; Joe Terranova is Long (C); Joe Terranova is Long (VRTS); Joe Terranova is Long (GS); Joe Terranova is Long (JPM); Joe Terranova is Long (UPL); Joe Terranova is Long (MS); Joe Terranova is Long (PBR); Joe Terranova is Long (BAX); Joe Terranova is Long (TEVA); Joe Terranova is Long (IBM); Joe Terranova is Long (BTU); Joe Terranova is Long (POT); Joe Terranova is Long (XOM); Joe Terranova is Long (DIS); Joe Terranova is Long (RSX); Joe Terranova is Long (CNQ); Joe Terranova is Long (CNX) Puts; Tim Seymour is Long (AGU); Tim Seymour is Long (BAC); Tim Seymour's Firm is Long (POT)
For Brian Kelly
Accounts managed by Kanundrum Capital Are Long (TLT)
Accounts managed by Kanundrum Capital Are Long U.S. Bonds
Accounts managed by Kanundrum Capital Are Long (GLD)
Accounts managed by Kanundrum Capital Are Long (SLV)
Accounts managed by Kanundrum Capital Are Long Gold
Accounts managed by Kanundrum Capital Are Long Corn
Accounts managed by Kanundrum Capital Are Long Soybeans
Accounts managed by Kanundrum Capital Are Long Wheat
Accounts managed by Kanundrum Capital Are Long Euro
Accounts managed by Kanundrum Capital Are Long (VLO)
Accounts managed by Kanundrum Capital Are Long (RDC)|
Accounts managed by Kanundrum Capital Are Long (MCP)
Accounts managed by Kanundrum Capital Are Short Yen
Accounts managed by Kanundrum Capital Are Short (XLF)
Accounts managed by Kanundrum Capital Are Short (IXG)
For Dennis Gartman
Funds managed by Dennis Gartman are Long Gold
Funds Managed by Dennis Gartman are long Oil
Funds Managed by Dennis Gartman are long Canadian Dollars
Funds Managed by Dennis Gartman are long Australian Dollars
Funds Managed by Dennis Gartman are long Corn
Funds Managed by Dennis Gartman are long Sugar
Funds Managed by Dennis Gartman are long Natural Gas
Funds managed by Dennis Gartman are Short Euros
For Rich Volpe
**No Disclosures**
For Colin Gillis
**No Disclosures**
For Scott Nations
Scott Nations is long (SPY)
For Heather Jones
BB&T Capital Markets is a Market Maker in (SFD)
BB&T Capital Markets is a Market Maker in (TSN)
BB&T Capital Markets expects to receive or intends to seek compensation for investment banking services from Smithfield Foods, Inc. and Tyson Foods, Inc. in the next three months.
An affiliate of BB&T Capital Markets received compensation from Smithfield Foods, Inc. and Tyson Foods, Inc. for products or services other than investment banking services during the past 12 months. The analyst or employees of BB&T Capital Markets with the ability to influence the substance of this report know or have reason to know the foregoing facts.
CNBC.com with wires.
