'Fast Money' Recap: Global Godzillas

Guy Adami mentioned how Honeywell is buying back stock due to a strong balance sheet. He feels strong balance sheets are bullish for M&A. Jeff Macke believes Nelson Peltz could raise his stake in Wendy's(WEN Quote). Market speculators took Wendy's stock up 10% after hours on the Peltz rumors. If you're long, Macke would take profits.

The Michael Vick Trade

A big image problem has developed for the National Football League with Atlanta Falcons star quarterback Michael Vick, who's been accused of being involved in funding dogfights.

ESPN analyst Sean Salisbury joined the "Fast Money" crew tonight to chat about this dilemma. Sailsbury believes that the superstar advertising model is dead, and he doesn't feel sorry for Vick if the allegations turn out to be true.

Pete Najarian believes the way to trade it is to buy Under Armour(UA Quote) because the company doesn't use sports stars in its advertising. He put the blame squarely on Nike(NKE Quote)for picking Vick to promote products.

Eric Bolling believes pro sports should have one strike and then you lose your opportunities in sponsorships. He kiddingly said the trade here is Corrections Corp. of America(symbol Quote).

Face 2 Face

The gang took its first viewer email: "I fear that as fast as the emerging markets funds went up this year they will go down just as fast and far more than a 15% pull back in the S&P. Should I sell my emerging market fund and put it all in a money market fund until the storm passes? Do you think the markets will finally have a 10% correction?"