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: HP Resurgence

NEW YORK (TheStreet) -- The S&P 500 closed flat while the Nasdaq moved modestly higher.  

Hewlett-Packard (HPQ) beat earnings estimates on the top and bottom lines. 

On CNBC's "Fast Money" TV show, Tim Seymour, managing partner of Triogem Asset Management, said he likes the stock after it raised guidance and looks to have broken out. 

Brian Kelly, founder of Brian Kelly Capital, disagreed and said he would use the pop to take profits. 

Karen Finerman, president of Metropolitan Capital Advisors, said HP has a solid balance sheet but the PC market is still a major headwind. She is not yet a buyer. 

Anthony Scaramucci, founder and co-managing partner of SkyBridge Capital, said he is a buyer based on valuation, great management and strong cash flow. 

Paul Meeks, equity analyst and portfolio manager at Saturna Capital, was a guest on the show who called HP overvalued near current levels. He added that it might be a good short because the PC market is still in a secular decline and the stock doesn't have any near-term positive catalysts. He likes Cisco Systems (CSCO) and International Business Machine (IBM)

Apple (AAPL) was higher on the day and Kelly suggested investors buy it instead of HP.

Seymour said $530 is an important level for the Apple stock to get through, while a strong holiday season and a deal with China Mobile Limited (CHL) in 2014 could be positive catalysts. 

Scaramucci said he is bullish on the stock in the long term and believes iPad sales will be strong this quarter. 

Turning to the Russell 2000, Kelly said the index will likely put in a long-term top in the next three to six months. 

Finerman said the index is very expensive and suggested a short-Russell 2000, long-S&P 500 trade. 

Tom Stemberg, managing general partner of the Highland Consumer Fund, was a guest on the show and said he wishes he could buy more shares of Tile Shop Holdings (TTS). He said it has great management, while its more specific tiling products offer wider margins than the commoditized tiles available at Home Depot (HD) or Lowe's (LOW)

Men's Wearhouse (MW) offered to buy Jos. A. Bank Clothiers (JOSB) and Finerman thinks some type of deal will eventually get done. 

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
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 17,156.85 +24.88 0.15%
S&P 500 2,001.57 +2.59 0.13%
NASDAQ 4,562.1890 +9.43 0.21%

Brokerage Partners

Rates from Bankrate.com

  • 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