'Fast Money' Recap: Rally Time

The stock market rallied back on Friday as investors got positioned for a busy week in earnings ahead. The team at CNBC's "Fast Money" reviewed potential deals and upcoming earnings.

Deal Anyone?

Biogen(BIIB Quote) announced plans to put the company up for sale after-hours. The Cambridge based biotech company has hired Goldman Sachs and Merrill Lynch to search for a deal. Biogen management thinks that selling the company would represent a better value to shareholders. Adami offers Pfizer(PFE Quote) as a possible buyer. Najarian doesn't understand why the company feels the need to sell when they are performing just fine. Instead, he suggests trading off the news with Elan(ELN Quote). Merck(MRK Quote) also traded up after-hours on winning FDA approval for a new HIV drug.

Oracle(ORCL Quote) announced a bid for rival software provider BEA Systems(BEAS Quote) for $6.7 billion. Najarian points out that the $17.50 calls are on fire with a ton of volume. Finerman predicts Oracle will eventually pay higher then $17 and other bidders will also take a look, having said that, she sold some of her stake in BEAS for her hedge fund. Macke commented that he likes Oracle.

Technology Earnings Plays

CNBC Silicon Valley Bureau Chief Jim Goldman joined the "Fast Money" crew to give his opinion on technology stocks set to report earnings next week. Goldman doesn't expect anything big from Yahoo!(YHOO Quote). In fact, he thinks they will disappoint. IBM(IBM Quote) and Intel(INTC Quote) will report good news. Goldman notes that a lot of people are concerned about eBay(EBAY Quote) and the stock has already made a run.