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'Fast Money' Recap: Apple Dividend Coming?

NEW YORK ( TheStreet) -- The markets rebounded Wednesday despite lingering uncertainties in the eurozone debt crisis.

The Dow Jones Industrial Average jumped 178.08, or 1.53%, to 11,836.04. The S&P 500 added 19.59, or 1.61%, to 1237.87. The Nasdaq rose 33.02, or 1.27%, to 2639.98

Joe Terranova said on CNBC's "Fast Money" TV show that it may take some time for clients to get their money from MF Global (MF). He mentioned traders he knew who still haven't been able to get their money out and don't know when they will get it.

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

Karen Finerman found that situation incredulous. She said the lessons of Lehman should have been heeded by any fiduciary or CFO to get their money out as quickly as possible after MF Global posted its largest ever quarterly loss more than a week ago. "You don't want to get your money tied up."

Guy Adami said the scandal is a blow to investor confidence in the system.

Will Apple (AAPL - Get Report) finally relent and share its huge cash reserves with its shareholders?

Finerman, who's been on a crusade to get Apple to return some of the $80 billion to shareholders in the form of a dividend or buyback, suggested giving way even $20 billion would not tie Apple's hands.

Peter Misek, an analyst with Jefferies & Co., said he expects Apple to announce a dividend or buyback by the end of next year. He said Apple's cash reserves would have grown by then to $120 billion. "It's so big they can't spend it fast enough."

Melissa Lee, the moderator of the show, noted that Qualcomm (QCOM - Get Report) was up 13% on a good earnings report. Adami said the margins were good, adding the stock could push through $60 next week on a beneficial tape. Brian Stutland noted a short squeeze on the stock could send the stock higher on Thursday.

With Groupon's IPO coming up, Anthony Catanach, an associate professor of the Villanova School of Business, said it was a shame that the company wasn't more transparent about its accounting practices.

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AAPL $124.75 0.00%
APC $93.68 0.00%
OXY $80.53 0.00%
QCOM $67.12 0.00%
RIG $17.98 0.00%


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