'Fast Money' Recap: What Would Warren Do?

Let's Make a Deal

Biogen(BIIB - Cramer's Take - Stockpickr) trades up in a down market on no news. Finerman speculated that both Merck(MRK - Cramer's Take - Stockpickr) and Pfizer(PFE - Cramer's Take - Stockpickr) are looking to buy Biogen. Najarian mentioned he saw options traders buying December options and selling July options. This action indicates to him that a deal will get done for Biogen between $85 and $90 per share. Najarian thinks a foreign buyer will takeover Biogen and Macke mentioned he doesn't think the buyer will be Merck.

ArcelorMittal(MT - Cramer's Take - Stockpickr) agreed to buy steel distributor M.T. Majdalani for an undisclosed amount. Adami continues to think that United States Steel(X - Cramer's Take - Stockpickr) is a takeover target.

POPS&DROPS

Pops - MasterCard(MA - Cramer's Take - Stockpickr) traded up 1% after Keefe, Bryette & Woods upgraded the credit card firm. Adami feels MA is a secular growth story that he likes.

Blockbuster(BBI - Cramer's Take - Stockpickr) traded up 7% after BMO Capital issued some bullish comments on the video rental chain. Finerman thinks traders weren't focused and were selling other stocks instead.

McDonald's(MCD - Cramer's Take - Stockpickr) traded up 2%. For Macke, this is one stock that is working and next month they will beat sales expectations.

FuelCell Energy(FCEL - Cramer's Take - Stockpickr) traded up 16% after the firm said its fourth-quarter loss was smaller than expected. Najarian maintains everyone around the globe wants to go green.

Drops - H&R Block(HRB - Cramer's Take - Stockpickr) fell 3% after the tax preparer saw second-quarter losses soar. Finerman wasn't surprised that this financial stock took a hit on a day like Tuesday.