This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

'Fast Money' Recap: Apple's Date With $500

Diamond Foods (DMND - Get Report) was down 37% today after announcing plans to restate its financial statements for the past two years.

Still, Tim Ramey, of D.A Davidson, maintained a buy rating on the stock, with a price target of $44. Ramey said the audit committee report is clear that there was no intent to push costs through, adding the walnut costs were close to what should be accrued.

Tamey said Diamond Foods can either continue operating its business or sell off some of its assets. He said he thinks it will continue to run the business, which he maintained was untouched by the scandal.

Lee brought in Stephanie Ericksen, head of authentication product integration for Visa (V), to discuss Visa, to discuss her company's plans to upgrade its credit and debit cards with chips.

Ericksen said the main purpose of the chip-enabled cards is to make it easier for banks to detect counterfeit fraud. She said there is a roadmap in place for merchants to upgrade their point-of-sale terminals.

Shifting to the Volality Playbook, Najarian said headline risks are behind the move of VIX back up through 20. He said investors are seeking protection and taking profits off the table.

For a technical view of the market, Carter Worth, a chartologist with Oppenheimer Asset management, said the S&P 500 small cap index is reaching its momentum peak. He said investors usually respond when this happens by selling their stocks and booking their profits.

He said the price of gold looks like it's "coming apart." As for individual stocks, he said he liked Genco Shipping & Trading (GNK - Get Report), saying it has some more room to run. He said TJX (TJX) had turned into a crowded trade.

Lee brought in Jerry Howard, CEO of the National Association of Home Builders, which is hosting a trade show in Orlando. He presented a bullish picture of the trade show, with attendance up 10% from a year ago and exhibitors and builders optimistic about a turn in the housing industry.

Lee and some panelists expressed their doubts about the turnaround. Lee noted several appliance makers took a pass on the trade show, while Terranova said housing prices need to stabilize before talk of an industry turnaround.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
GNK $0.00 0.00%
AAPL $123.25 0.00%
BAC $15.31 0.00%
DMND $32.48 0.00%
NUAN $14.04 0.00%


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs