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'Fast Money' Recap: Netflix Unplugged

Scaramucci is a buyer of Hewlett-Packard (HPQ), even with the stock up 79% since January. He said he's been a long-time holder of the stock and the company has made too many acquisitions, but CEO Meg Whitman makes the difference.

Kicking off the show's "Top Trades" was Yahoo!, the worst performer in the S&P 500 Monday on news the company would be buying back 40 million shares of hedge fund manager Dan Loeb's stake of 60 million shares. He will also be resigning from the board.

Nathan said there's a lot more risk in this name over the near term and that the Alibaba IPO would only slightly help. Investors will have to rely on Yahoo!'s core business after the autumn IPO. But Yahoo!'s second-quarter results were not very promising. He said he would be interested in buying near $26.

McDonald's reported earnings Monday and missed on the bottom line. Adami said that U.S. comps were some of the worst he's seen in recent years. He added that the stock has been making lower highs since May and you could look to buy it in the low $90s.

U.S. existing home sales fell 1.2% for the month of June and was the cause of some selling pressure in homebuilders such as PulteGroup, Lennar (LEN) and D.R. Horton (DHI). Najarian said these companies have been remarkably strong and the pullbacks are buying opportunities.

Turning the focus to Apple (AAPL) ahead of its third-quarter results late Tuesday, Najarian likes the stock. He said that from a valuation perspective the company is cheap due to having so much cash on hand and the $60 billion stock buyback program has put an artificial floor in the price. He added that a deal with China Mobile (CHL) would get the stock to $500 in a hurry.

Nathan was more wary. He said the recent headlines regarding larger screens might delay the product launches Apple typically schedules for the fall. He also noted that a deal with China Mobile would mean lower prices and thus lower gross margins. However, he did say Apple would be a great buy should it sell off after the report.

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