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TheStreet Open House

'Fast Money' Recap: Driving With the Automakers

NEW YORK (TheStreet) -- The S&P 500 finished Tuesday with a slight loss, down 0.04%. 

On CNBC's "Fast Money" TV show, the trading panel discussed U.S. auto sales, which came in much stronger than expected. 

Karen Finerman, president of Metropolitan Capital Advisors, said the public obviously doesn't care about the recall issues at General Motors (GM) since sales came in quite strong. She added that the auto report was good for most automakers, indicating the consumer may be stronger than investors had thought. 

Dan Nathan, co-founder and editor of, wondered whether this Friday's nonfarm payrolls report would be stronger than expected, too. Regarding the auto sales, he suggested this may be as good as it gets. 

Brian Kelly, founder of Brian Kelly Capital, said the auto sales gains were likely so strong because the weather prevented so many consumers from purchasing vehicles earlier in the year. But monthly auto sales may not be as strong as they were in May. 

Guy Adami, managing director of, said the 1.5% rally in shares of GM was pretty "weak" given the year-to-date selloff of the stock. He added that BorgWarner (BWA) and Alcoa (AA) are good "derivative" plays on the auto industry.

Ben Kallo, senior research analyst at R.W. Baird, has a buy rating on shares of Tesla Motors (TSLA) with a $275 price target. It's good news that CEO Elon Musk will be around for roughly another five years, a point the chief executive made during the company's recent shareholder meeting, he said. Kallo added that margins should improve in 2014, and production looks likely to be higher than expected this quarter. 

Turning to solar, Kallo said his top pick in the sector continues to be SunPower (SPWR), on which he has a buy rating with a $42 price target. He also has a buy rating on First Solar (FSLR) and SolarCity (SCTY), with price targets of $87 and $80, respectively. 

Adami said he would rather buy Tesla Motors on a breakout over $225 than at current levels. 

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