'Fast Money' Recap: RIM's Disappointing Outlook

The markets stabilized Thursday on some encouraging economic data.

The Dow Jones Industrial Average added 58.42, or 0.69%, to 8,555.60, while the S&P 500 rose 7.66, or 0.84%, to 918.37. The Nasdaq fell 0.34, or 0.02%, to 1,807.72.

Erin Burnett, the moderator of CNBC's "Fast Money" TV show, noted that shares of Research In Motion (RIMM Quote)were falling in after-hours trading over a disappointing guidance.

Joe Terranova said the stock fell because its unit shipments were south of the 8 million projected. Terranova, who is long on the stock, said it's "where you have to buy it."

Guy Adami said he wouldn't rush in to buy the stock because he sees it heading as far down as a $60-handle. He also said Apple (AAPL Quote), which releases its new iPhone Friday, could roll over if the tape rolls over on RIM.

Jim Goldman, a CNBC reporter who was on the RIM conference call, said the stock declined because of disappointing second-quarter guidance for shipments and new subscriptions that were below analysts' estimates. Still, he said the company is doing well in its space and is worthy of a recent $100 price target placed on its stock.

Burnett brought in Mike Gurka, a global asset strategist with Empower Global Funds, to talk about investing opportunities overseas. He said he liked South America and one company in particular: Chemical and Mining Company of Chile(SQM Quote) for its work in fertilizers, iodine and lithium. He said the company operates in 100 countries and sports an attractive dividend.

Rip Coburn, founder and CEO of Coburn Ventures, said he was short Best Buy(BBY Quote) because he thinks big box consumer electronics outfits are on the wane. He said consumers are much smarter about shopping around for products.