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'Fast Money' Recap: The Market Changes Course

NEW YORK ( TheStreet) -- While the broader market appeared to be heading for another close in negative territory, it was able to reverse course and snap its five-day losing streak.

On CNBC's "Fast Money" TV show, Guy Adami said that while everyone knows the auto sector is doing well, he would stick with BorgWarner (BWA), which hit new highs on Thursday.

Tim Seymour would buy Starbucks (SBUX) because it is a great U.S./multinational play and margins can continue to expand. He added that the company deserves a premium valuation.

Mike Khouw likes Priceline.com (PCLN) and reminded investors they should not confuse stock price with valuation, arguing that it's still cheap relative to its growth rate.

Karen Finerman said she still likes MasterCard (MA) because it's a premium company with a reasonable valuation considering its revenue growth.

Steve Grasso said Google (GOOG) is his top pick for this market environment, citing YouTube's revenue growth rate and increasing ad spending in particular.

Nike (NKE) reported strong earnings and Adami said this isn't a consumer story but a company-specific one. He wouldn't chase the stock and would wait for a dip.

Finerman said the Nike news should help boost Finish Line (FINL) and Foot Locker (FL), particularly the latter.

J.C. Penney (JCP) announced that it would offer 84 million shares in a secondary despite CEO Mike Ullman recently saying the company would not be looking to raise additional capital this year.

Finerman said this seems awfully fishy, but should keep the company afloat for a while. Seymour added that the stock will probably take a hit from the offering.

Jeff Lick, owner of Galt Investments, was a guest on the show and said he would definitely not be a buyer of J.C. Penney. He added that suppliers could have been holding back if they didn't believe the company could fulfill its obligations. Switching stocks, he said he is a fan of Deckers Outdoor (DECK).

JPMorgan Chase (JPM) was the featured company on the show's "Street Fight" segment. Adami defended the stock saying it's cheap based on book value and earnings. He added the stock has been resilient through negative headline after negative headline.

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