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'Fast Money' Recap: Blame David Tepper

Cisco Systems (CSCO) jumped 6%. Najarian said management sounded "very bullish" and the stock had impressive strength on a bad day in the overall market. 

Blackstone (BX) fell 2%. Kelly said investors who like the stock can buy it based on Thursday's selloff. 

Najarian said Red Hat (RHT) looks poised to "go higher," based on bullish call option activity. 

Tim Seymour, managing partner of Triogem Asset Management, made a guest appearance on the show. He is short Melco Crown Entertainment (MPEL), saying the valuation of the stock no longer makes sense now that the company is not growing annual revenue by 60%. He reasoned that a good level to cover the short position is near $30. He likes Tencent Holdings (TCEHY) and Baidu (BIDU)

Must Read: 'Fast Money' Recap: Something Isn't Adding Up

Donald Drapkin, managing director and co-founder of Casablanca Capital, and Anthony Scaramucci, founder and co-managing partner of SkyBridge Capital, were guests on the show. Drapkin said he sold his common shares of General Motors (GM) at a profit and bought a long position in call options. 

Drapkin argued the stock trades at a very attractive valuation and will do well over time. Scaramucci agreed, calling it a "low P/E stock," referring to GM's valuation. He said the management team has accepted accountability for the recall issue and suggested that the company may increase its dividend and announce a share buyback. He called the stock a good investment for the current market environment. 

Lauren Bush, co-founder and CEO of FEED Projects, was a guest on the show. The philanthropist said her organization has donated 75 million meals since its inception seven years ago. She is optimistic on the younger generation, calling them "conscious consumers." Those who want to help can do so buy purchasing products to benefit the hungry on 

For their final trades, Adami was a buyer of Goodyear Tire & Rubber (GT) and Kelly was a seller of Toyota Motors (TM)

-- Written by Bret Kenwell in Petoskey, Mich.

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Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter.
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