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'Fast Money' Recap: Some Good, Some Bad for Cisco

NEW YORK (TheStreet) -- U.S. equity markets moved higher on Wednesday, with the S&P 500 climbing 0.67%. 

On CNBC’s “Fast Money” TV show, the trading panel took a look at Cisco Systems (CSCO) following its earnings report. 

Pete Najarian, co-founder of and, pointed out the company beat on top- and bottom-line estimates and bought back a lot of shares. He is a buyer on Thursday if the stock opens lower. 

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Brian Kelly, founder of Brian Kelly Capital, said Cisco had some good things and some bad things in its report, and like the economy it is doing “okay, but not great.” The U.S. business was strong while the company struggled outside the country. 

Jon Najarian, co-founder of and, said Cisco is having trouble gaining traction in emerging markets, but the company has a ton of cash and he “wouldn’t be unhappy about these results.” 

Guy Adami, managing director of, called the stock cheap based on valuation. However, he argued that based on recent price action, the stock could trade lower. If it gets to $22.50, he is a buyer.

Inder Singh, managing director at SunTrust Robinson Humphrey, has a buy rating and $27 price target on shares of Cisco and is pretty happy with the results. The company has reported “two solid quarters in a row,” he said. The company continues to set the bar low and then exceed it. In other words, guidance was likely conservative, he concluded. 

Adami is a buyer of VMware (VMW), and called the valuation “fair.”

Jon Najarian said Tekmira Pharmaceuticals (TKMR) continues to lose money very quickly, which is expected of a small-cap biotech stock that it accelerating its treatment tests and studies. He called the stock a “no touch” for investors who are not long, and a hold for investors who have been in the name after the big upside move over the past few weeks. 

Pete Najarian called the recent pullback in Macy’s (M) a buying opportunity. The company grew earnings 11% year-over-year, despite missing analysts estimates. 

Kelly disagreed, saying he is not a buyer of Macy’s or Nordstrom (JWN), citing weak retail sales for July. 

Read More: Would Bruce Springsteen Revel in Atlantic City’s Collapse?

Adami said he is a buyer of Macy’s, which has a reasonable valuation. He suggested using a stop-loss near $54. 

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