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: Retailers on Sale

NEW YORK ( TheStreet) -- The S&P 500 trended lower throughout Wednesday before closing near session lows.

Retail has shocked many investors with its recent disappointment. On CNBC's "Fast Money" TV show, Karen Finerman said that it was not a great day for shareholders of Macy's (M) after a poor earnings report.

She added that she considers Macy's the best in its group and that it made her worried of other retailers who have yet to report. She was a seller of Kohl's Corp. (KSS) and J.C. Penney (JCP).

Brian Kelly added that he was not a fan of retail, and higher gas prices will likely add to the weakness. He also said the tapering effects would hurt high-end retailers.

Dan Nathan said it seemed like we made it out of the second quarter earnings season without too much pain, but weakness in high-end and teen retailers have a lot of investors second guessing.

Steve Grasso suggested that the shakiness in the retail sector could just be the beginning for the overall market, especially after Cisco Systems (CSCO) delivered poor guidance in its earnings report.

Regarding Cisco's earnings, Kelly said the stock had become a bellwether name once again and that it wasn't promising to see the company cut jobs in order to reach certain levels of profitability.

Nathan said he would be a buyer of Cisco if it traded down to $23, which is the level the stock gapped up from on its previous earnings report.

Steven Wieting, global chief strategist at Citi Private Bank, said he expects a slowdown in the markets for the second half of 2013. Stocks are near record highs, but he said he still prefers equities to fixed income although he doesn't expect returns to be as robust.

Steinway Musical Instruments (LVB) was the first stock on the show's "Pops & Drops" segment after it agreed to be acquired by Paulson & Co.. Nathan said there was nothing left here for traders to go with.

Grasso said hedge fund managers were scooping up names such as Freeport-McMoRan (FCX), which have been lagging the broader market, to try and make up some ground before the end of the year.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!
DOW 17,279.74 +13.75 0.08%
S&P 500 2,010.40 -0.96 -0.05%
NASDAQ 4,579.7890 -13.6380 -0.30%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

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