'Fast Money' Recap: Weak Jobs Report?

NEW YORK (TheStreet) -- The markets surged Monday on a flurry of M&A activity.

The Dow Jones Industrial Average jumped 78.53, or 0.76%, to 10,403.79, while the S&P 500 rose 11.22, or 1.02%, to 1,115.71. The Nasdaq was up 35.31, or 1.58%, to 2,273.57.

Gary Kaminsky, who had been saying that the market needs more M&A activity to move higher, said on CNBC's "Fast Money" TV show said the market needs to see more strategic deals and not ones like AIG's(AIG) sale of its Asia unit, which he called a "liquidation" deal.

For a breakout of some stocks from a recent "Fast Money" TV show, check out Dan Fitzpatrick's "3 Stocks I Saw on TV."

3 Stocks I Saw on TV

Tim Seymour disagreed, saying that the AIG deal is strategic because a party with money is picking up the AIG unit.

Karen Finerman sided with Seymour, saying the AIG deal was strategic with multiple parties bidding "real" money. "This is M&A at its best," she said of the pickup in deal-making.

Guy Adami called Greenhill & Co.(GHL) a pure M&A play. He said the company has received an upgrade and a $100 price target.

Pete Najarian said another name to consider is Lazard Ltd.(LAZ) which is now getting back together after having gotten beaten up. "This stock is poised to move up," he said.

Seymour reminded the panel that Goldman Sachs(GS) has been key to many of these deals.

Melissa Lee, the moderator of the show, asked Kaminsky to comment on his pick last week of Pall(PLL), an industrial infiltration company, as a second derivative play off of today's move by Merck KGaA(MKGAY) to buy Millipore(MLL). Kaminsky reiterated his belief that the action is ripe for something to happen with Pall.

Lee noted that tech stocks were leading the market higher today. Najarian said there was strong options activity in SanDisk(SNDK), Apple(AAPL) and Qualcomm(QCOM). Najarian said these companies enjoy great balance sheets and is benefiting from a turn in the business cycle.

Adami said Qualcomm looks good after it announced plans to raise its dividend and go through with a buyback. He said $34 feels like the bottom for the stock.