NEW YORK (TheStreet) -- All three major indices closed near the highs of the day on Friday.
On CNBC's "Fast Money" TV show, Guy Adami, managing director of stockmonster.com, said Exxon Mobil
(XOM) could still have upside potential, but those looking to buy now are a "little late to the game."
Warren Buffett recently purchased 40 million shares of Exxon Mobil for $3.1 billion, so the price is naturally rising.
Brian Kelly, founder of Brian Kelly Capital, said WTI crude oil keeps going lower because more and more supply keeps coming online. He suggested shorting Pioneer Natural Resources (PXD).
Tim Seymour, managing partner of Triogem Asset Management, said he likes XOM and General Electric (GE).Stuart Frankel & Company's Steve Grasso said the refinery stocks should keep benefiting if WTI crude keeps going lower, but acknowledged the stocks seem to be getting a little too extended. Bill McDermott, co-CEO of SAP AG (SAP), was a guest on the show and said his company is very focused on China. He added that the country has a ton of potential with the cloud and in big data. McDermott said that constant innovation allows it to stay ahead of its competition and it is currently focused on growing organically, not through M&A. Seymour said emerging markets won't be able to rally without the participation of China. He added that likes SAP, Pepsico (PEP) and Mead Johnson Nutrition (MJN). If China continues to lessen restrictions within the country, Grasso said he likes Las Vegas Sands (LVS) and Wynn Resorts (WYNN). Kelly said he would be a buyer of J.P. Morgan (JPM) if it can break above, and hold, $55. Grasso said investors could keep buying the dip in shares of Pandora (P), but should use a 3% trailing stop-loss. Adami said GameStop (GME) will likely rally into earnings but investors should sell out and possibly even get short if it can't get through $61.
U.S. Steel (X) was the first stock on the show's "Pops & Drop" segment and Grasso said he is neither a buyer or a short-seller of the stock. Archer Daniels Midland (ADM) fell 3% and Kelly said an unfavorable EPA decision will hinder it going forward. Zulily (ZU) cruised 71% higher and Adami said there's no reason for investors to buy the the stock. Jos. A. Bank Clothiers (JOSB) was up 1% and Seymour said management will continue to hunt for the best way to unlock more value for shareholders. Kelly said investors should be cautious of Japanese equities after its yields jumped so high in the overnight session. He added that he is still long the WisdomTree Japan Hedged Equity ETF (DXJ), but suggested investors be aware of the situation. For their final trades, Seymour was a buyer of Clean Energy (CLNE) and Adami was buying Cisco Systems (CSCO). Grasso said to buy Disney (DIS) and Kelly was a buyer of iShares MSCI Mexico Capped ETF (EWW). -- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell Follow TheStreet.com on Twitter and become a fan on Facebook.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV