'Fast Money' Recap: UPS Lowers

Stocks in the U.S were slightly down today as the Dow shed not even a percent to 11,842.36; the S&P 500 gained .01%, ending at 1,318 and the Nasdaq lost .85%, finishing at 2,385.74.

On CNBC's "Fast Money" TV show, Dylan Ratigan began with an update on UPS(UPS Quote - Cramer on UPS - Stock Picks) as it cut estimates after hours and lowered guidance by about 20%.

Guy Adami was surprised it waited so long, and said the U.S. economic slowdown is affecting UPS internationally.

Jeff Macke says nobody can buy UPS or Fedex(FDX Quote - Cramer on FDX - Stock Picks) because the U.S. economy is anemic to its business.

Pete Najarian switched up the conversation, moving on to the financial sector. Najarian wants to know when Merrill Lynch(MER Quote - Cramer on MER - Stock Picks) is going to come out and speak about the company's current position. He stated that financial stocks "looked as bad today as they did Friday" and it's just not time to buy.

Karen Finerman hasn't yet added to her financial positions yet either.

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Ratigan then moved the group along, bringing up Goldman Sach's(GS Quote - Cramer on GS - Stock Picks) reversal of its May 5 call to buy financials and consumer discretionary.

Macke said that at least it didn't ride the call into the ground, and tweaked its position. It admitted it was wrong and got out of its positions within the sectors.

Najarian thinks Goldman didn't interpret what was going to happen within the regional banks.

Ratigan then shifted gears to oil and took a look at Halliburton(HAL Quote - Cramer on HAL - Stock Picks) and Schlumberger(SLB Quote - Cramer on SLB - Stock Picks).

Adami says the valuations of these stocks are reasonable and that they are still a buy.

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