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'Fast Money' Recap: Driving With the Automakers

Nathan said investors should avoid shares of SCTY due to its bearish technical setup. 

Adami said Microsoft (MSFT) appears to have its "mojo" back and shares can climb to $45. The stock is not overvalued and the last earnings report was strong. MSFT, along with Apple (AAPL), has "wind in its sails," he added. 

Nathan said that Apple's software continues to dominate over other devices and services. He pointed out the bullish call buying activity in the July $680 calls. The bigger Apple can build its ecosystem, the better off the company will be with retaining customers, Finerman reasoned. 

Kelly is a buyer of Advanced Micro Devices (AMD), as bitcoin and other digital currencies continue to gain steam. He reasoned that digital "miners" will need more chips to increase their mining capabilities.  

Nathan is bearish on shares of Wynn Resorts (WYNN). With negative news coming from Macau -- where Wynn derives three-quarters of its profits -- the stock could be in trouble, he said. If it breaks below $200, it will go right to $180. 

Finerman said she is long Fannie Mae (FNMA) and Freddie Mac (FMCC), as is hedge fund manager Carl Icahn. She called it an "asymmetric" investment, meaning it will either be worth a lot or practically nothing in the future. 

Kelly said shares of Google (GOOGL) could be "rolling over" and headed lower. He suggested investors use the stock as a "barometer" for the overall market. 

Bill Merritt, president and CEO of InterDigital (IDCC), was a guest on the show. The stock soared 21% as the company raised its quarterly guidance to $172 million to $210 million, from $65 million to $72 million. This came after the company signed a multi-year licensing deal with Samsung. 

Merritt said the company has a lot of cash on the balance sheet, approximately $17 per share is in cash, and InterDigital will continue with its aggressive buyback and dividend payouts. He added that the Samsung deal gives momentum for future licensing deals with other big companies, such as Apple and HTC. 

Adami said investors can likely buy shares of IDCC at current levels. 

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