Grasso said shares of BAC could decline below $15 but it would be good news for it to get the litigation issues over with. It will be his go-to stock to purchase when looking to get exposure to the financial sector.
Walgreen (WAG) declined 14% after announcing that it will not go through an inversion with its offshore acquisition of Boots Alliance, while also providing lower-than-expected 2016 guidance. Seymour said most of the selloff is likely tied to the guidance, which came in almost 15% below analysts' expectations.
Najarian and Grasso both disagreed, saying most the stock's decline was related to its decision to remain domiciled in the U.S.
Adami is not a buyer of FireEye (FEYE) because it has lost its credibility with investors.Grasso said he is still long Southern Company (SO) for its dividend yield and "defensive" nature. Tim Nollen, senior media analyst at Macquarie Group, said Twenty-First Century Fox (FOXA) reported good earnings after beating on top- and bottom-line expectations. He added that its attempted acquisition of Time Warner (TWX) is now off the table, and it had been attempted out of "opportunity, not need." Nollen is bullish on the media industry. Najarian said the industry looks strong but Disney (DIS) is his favorite pick. Adami likes Disney, too, but said Time Warner appears to have the most upside. He reasoned that the stock could bounce "right back to $80." Grasso said Pandora (P) could take market share from Sirius XM (SIRI) on sports and talk radio. Adami recommended investors not sell the stock short, saying they should only be long or flat the stock because of the risk of a short squeeze. Read More: Jeff Bewkes Flexes Muscles as Rupert Murdoch Tries to Save Face Macy's (M) climbed 2% and was the first stock on the show's "Pops & Drops" segment. Najarian said the stock seems likely to head higher and retest its 52-week highs.
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