NEW YORK (TheStreet) -- The S&P 500 improved its winning streak to four consecutive days, closing higher by 0.29% on Wednesday.
On CNBC's "Fast Money" TV show, Pete Najarian, co-founder of optionmonster.com and trademonster.com, said Amazon's (AMZN) new streaming set-top box, the Fire TV, will likely underwhelm customers, especially with its $99 price tag.
Jon Najarian, co-founder of optionmonster.com and trademonster.com, agreed, saying the device does not have enough features to support the price. He added that Google's (GOOG) Chromecast device is similar, but much cheaper at $35.
Guy Adami, managing director of stockmonster.com, pointed out Amazon has not traded well since the last earnings report and he suggested investors avoid the stock at current levels.Karen Finerman, president of Metropolitan Capital Advisors, said shares of Amazon could fall a lot if the company misses earnings expectations again, with results expected to be reported on April 24. She did not like the company's valuation. Michael Pachter, managing director of equity research at Webush Securities, agreed Amazon's Fire TV device was "too little, too late." He added the device is not a negative for Netflix (NFLX) since the service will be available on the device as well. Overall, though, he was not bullish on Netflix and expects operating and content costs to hurt the stock, especially once the company is forced to raise prices. Adami said Tesla Motors (TSLA) appears to have formed a short-term bottom on Monday and will likely continue to move higher over the next several weeks. Pete Najarian added Tesla has strong support at its 50-day moving average. Daniel Ives, an analyst at FBR Capital Markets, has a hold rating on Microsoft (MSFT) with a $40 price target. It's good to see the tech giant going after cloud and mobile businesses, he said. He added that CEO Satya Nadella is the leader who is finally taking steps to navigate the company toward growth. However, he admitted that the mobile and cloud business would be an uphill battle. Adami said investors should stay long Microsoft into its earnings release. He is targeting the $46 level, where he suggested taking profits. Pete Najarian agreed.
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