NEW YORK (
) -- The markets rallied off the lows Tuesday on a move to beef up the eurozone rescue efforts.
Dow Jones Industrial Average
was up 52.30, 0.43%, to 12,150.13. The
rose 1.39, or 0.11%, to 1258.47. The
lost 6.20, or 0.23%, to 2649.56.
Melissa Lee, the moderator of
's "Fast Money" TV show, started the panel discussion when she brought in Carl Icahn to comment on his $1.73 billion cash bid for
. Icahn, whose firm has a 10% stake in the company, said his bid has energized the stock and hopefully the shareholders to support his bid.
For a breakout of some stocks from a recent "Fast Money" TV show, check out Dan Fitzpatrick's "3 Stocks I Saw on TV."
3 Stocks I Saw on TV
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Contrary to his failed bid for
, Icahn said the bid for Commercial Metals has shareholder backing, adding he would need a big turnout for the tender to succeed.
Icahan also said he supports the idea of a merger between
, both of which he has stakes. He said the two companies would benefit from the synergies of a merger.
Pete Najarian said the Jan. 14 calls in Commercial Metals were very active today. He wondered whether another bidder might step in the situation. Finerman and Lee pointed out the stock traded at a discount on the day that Ichahn made his bid.
Lee noted that
took a hit today after
launched a service to stream movies and TV shows over the Web.
Any Hargreaves, of Pacific Crest, said he didn't think Verizon's move represented much direct competition for Netflix. He characterized Verizon's efforts more like taking a "cable-like bundle" that will done over IP in a nationwide effort.
He disagreed with the panel that Netflix should be owned soley for its value as an acquisition target. He said Netflix is still offers an attractive customer service for $8. He said the long list of interested parties in Netflix includes names such as
Lee switched to Todd Gordon, of Aspen Trading, for a currency trade. With the euro still having problems because of Europe's debt crisis, he advised shorting the euro against a long Australian dollar.
Lee noted that crude oil prices rose above $100 a barrel today. Grasso said he expects the positive correlation between natural gas and oil plays to come to end in the next quarter. He said he would avoid mid-capitalized names in natural gas such as
Terranova said investors could still be in natural gas if they invested in a name like
, which has learned to live with $4 natural gas.
The undefeated Green Bay Packers is offering fans to own a piece of the team at $250 a share. Mark Murphy, the president and CEO of the Green Bay Packers, said the money raised from the sale of 250,000 shares will be directed toward updating the stadium. The stock, which is being bought more for sentimental value than anything else, is being sold through the Internet.
was one of the best performers in the market after it garnered an outperform rating and $21 price target from Sanford C. Bernstein.
Steven Winoker, the Sanford Bernstein analyst who made the call, called attention to the prospects of a 10% dividend increase by GE in 2012. He also said the company's industrial and financial services operations are doing well.
Shifting to the Volatility Playbook, Tim Freeman, of Elevation, LCC, said he expects volatility, which has been flat for the year, to come in. He said the S&P could be looking at 1300 if the upcoming meetings in Europe and at the Fed live up to expectations.
Apple shares appear headed for a rebound in December. Mike Walkley, an analyst with Canaccord Genuity, said his company's checks around the globe show that Apple's iPhones are gaining market share in the smartphone market at the expense of
Research In Motion
He said Apple is on target to capture 60% of the global handset industry profits in its first quarter. Moreover, he expects iPhone shipments will jump 80% sequentially to 30 million units for the December quarter.
He said RIM hopes the situation will stabilize when its new BBX smartphones come out in May 2012.
Kelly said he would look at
to play the mobile phone space.
In the final moves, Kelly liked
. Terranova said
has a date with $200. Grasso liked
. Finerman favored
in Toronto. And Najarian said the upside call action has been outstanding in
Written by David Tong in San Francisco.
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