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TheStreet Open House

'Fast Money' Recap: The Economy and the Internet

NEW YORK (TheStreet) -- The S&P 500 closed near session lows and the trading panel discussed the global economy. 

On CNBC's "Fast Money" TV show, Tim Seymour, managing partner of Triogem Asset Management, said Chinese Internet stocks have been doing well because of mobile monetization. Specifically, he said Baidu (BIDU) has a reasonable valuation. 

Dan Nathan, co-founder and editor of riskreversal.com, said the Internet plays are doing well but are not carrying the Chinese economy by any means. He pointed out the Shanghai composite index is still negative on the year. 

Guy Adami, managing director of stockmonster.com, suggested that investors take profits in Yahoo! (YHOO), after it closed above $40, driven mainly by its exposure to Alibaba. He said there is maybe $3 to $4 of upside, while the downside could put the stock in the low $30s. 

Karen Finerman, president of Metropolitan Capital Advisers, said dry bulk shippers such as Navios Maritime Holdings (NM) and Navios Maritime Acquisition Corp. (NNA) will continue to outperform so long as global growth continues to improve. 

Nathan suggested a deal between China Mobile Limited (CHL) and Apple (AAPL) might be priced into APPL shares already and could be making less of an impact than investors think. 

Seymour disagreed, saying most of AAPL's recent move was attributed to it being undervalued. He thinks CHL will be important to AAPL's bottom line in 2014. 

David Gerstenhaber, president of Argonaut Capital Management, was a guest on the show who said shares of AAPL are undervalued and should benefit from exposure to China. He likes Japanese equities more than U.S. equities in 2014 and thinks Delta Air Lines (DAL) should continue to do well. He concluded that the biggest risk to equities was a tapering of asset purchases by the Federal Reserve. 

MasterCard (MA) announced a 10:1 stock split, an 83% increase to its current dividend and a $3.5 billion share buyback program. Finerman complimented the company's margins and said she still likes the stock despite its stretched valuation. 

Twitter (TWTR) made new highs on Tuesday, but Nathan suggested investors will likely get a chance to buy shares at $45 or possibly even $40. 

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