Lee shifted to the upcoming Caesars Entertainment IPO, which has been priced at $9. David Bain, managing director at Sterne Agee, said the IPO represents an attempt to dip into equity market and get a public valuation for future offerings. He said it's not a good deal for investors unless they assume the domestic economy is going to come roaring back.
Finerman questioned the depressed pricing level of the stock and how it is being set up to allow shareholders to divest their shares.
Lee brought in Wall Street Journal reporter Greg Zuckerman to talk about the California State Teachers' Retirement System $500 million infrastructure bet. He said CALSTRS is teaming with an Australian firm called Industry Funds Management in an investment in the IFM's Glolbal Infrastructure Fund.According Zuckerman, the wager is considered one of the largest one-time investments in infrastructure assets like utilities, roads and ports. He said CALSTRS could be looking to be making its own direct investments in infrastructure assets of state and local governments that are in financial trouble. In the final trades, Seymour said he would be a seller of the mining names. Adami liked Robert Half (RHI - Get Report). Finerman said she would take some money off the table in Cummins (CMI - Get Report). Nathan said he would take some money off Apple and buy some cheap downside puts. -- Written by David Tong in San Francisco.
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