'Fast Money' Recap: Worrying About China
Adami said he is long Intel (INTC) for his cyber-security play because of the company's McAfee business. Najarian said investors should look at F5 Networks (FFIV) for a play on cyber-security because of its relatively low forward valuation.
Lionsgate Entertainment (LGF) fell on Thursday after it was announced it would pay $7.5 million to the Securities and Exchange Commission for misleading investors.
Grasso said that's a negative headline for LGF, but it ultimately isn't that bad because, thanks to the fine, investors know the end outcome and the uncertainty has been removed. He said the company has a lot of great content in its pipeline.
General Motors (GM) sank lower Thursday, falling 2.20%. Finerman said she is staying long as the news on the federal criminal investigation into GM's ignition switch recall will eventually pass.Najarian agreed, saying the stock may move lower from here but is at a good level for investors to start buying. Grasso was more hesitant. He said GM stock looks like it could decline to $30. Jing Ulrich, vice chairman, Asia-Pacific, at JPMorgan Chase (JPM), said there are definitely concerns about the Chinese financial sector. Lending in the country has skyrocketed in the past several years and will likely decline in the next couple of years. The decline in lending could result in lower economic activity in the region, which could have a major impact on U.S. and global economies. Facebook (FB) fell 3% and was the first stock on the show's "Pops & Drops" segment. Adami said that $66 is critical support. If it holds that level, it will likely climb to $75. Plug Power (PLUG) soared 18%. Najarian advised investors to research the stock thoroughly because it is very volatile. Herbalife (HLF) dropped 5%. Grasso said nobody has an "edge" in the stock and he was avoiding the name. Amazon (AMZN) hiked the price of its Prime membership to $99 per year from $79. Gene Munster, managing director and senior analyst at Piper Jaffray, said Amazon's price increase should add $115 million in profitability over the next 12 months.
He added that many current members will unlikely drop the service due to the price hike, especially since Amazon rarely raises prices. This will be the first price hike for the Prime service in the U.S. He has an overweight rating on the stock with a $420 price target.
-- Written by Bret Kenwell in Petoskey, Mich.
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