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'Fast Money' Recap: Whale Watching

NEW YORK ( TheStreet) -- The markets recovered from their lows Tuesday and closed mixed.

The Dow Jones Industrial Average rose 4.21, or 0.03%, to 12,878.28. The S&P lost 1.21, or 0.09%, to 1350.50. The Nasdaq gained 0.44, or 0.02%. to 2931.83.

CNBC's "Fast Money" TV show began with some whale watching. First up was Berkshire Hathaway (BRK.B). CNBC reporter Brian Sullivan said Berkshire Hathaway said in its 13-D that it had established new positions in Davita (DVA - Get Report) and Liberty Media (LMCA) and added to its stakes in Directv (DTV), CVS Caremark (CVS), Coca Cola (KO) and General Dynamics (GD).

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 liked the free cash flow in Davita, adding management continues to do a tremendous job there.

Guy Adami advised against chasing Davita, saying its stock valuation looked stretched.

Joe Terranova said Berkshire's picks signified a belief that things are improving domestically and globally, and that investors are taking on a little more risk.

Melissa Lee, the moderator of the show, asked the panel to comment on John Paulson's 8.4% stake in Hartford Financial (HIG - Get Report) and his efforts to get the company to spin off its property and casualty business. Scaramucci said Paulson was probably right about this one.

Next up was David Einhorn's Greenlight Capital, which established new stakes in Research In Motion (RIMM), Dell (DELL), Xerox (XRX) and Yahoo! (YHOO).

Lee was puzzled by the pick of RIM, but Scarmucci said it's a cheap stock with a high potential upside as an acquisition target and the advantage of an installed base, if the acquisition scenario doesn't work out.

Finerman down played the RIM selection, noting it's only a $45 million investment. Adami said RIM may be worth a look as a trading stock.

Apple (AAPL - Get Report) rose again today, to $510. According to CNBC reporter Jon Fortt, CEO Steve Cook said in a conference call that tablets will be bigger than the PC market and emphasized the importance of emerging markets in its growth story.

Lee brought in Carl Icahn, who has a 14.5% stake in CVR Energy (CVI) and is urging the board to put the company up for sale.

Icahn questioned CVR Energy's ability as a small refinery to continue with its current hedging strategy. He said it would be much more valuable as part of a larger company. He declined comment on the identify of possible acquirers.
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