NEW YORK (
was down in after-hours trading on Wednesday after it announced it was going to pick up
for $1.2 billion.
At the close of today's trading session, the
Dow Jones Industrial Average
was up 53.28, or 0.48%, to 11,045.27, while the
added 7.65, or 0.65%, to 1,191.36. The
edged up 0.26, or 0.01%, to 2,471.73.
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 onTV
varconfig = new Array(); config<BRACKET>"videoId"</BRACKET> = 81658302001;config<BRACKET>"playerTag"</BRACKET> = "TSCM Embedded Video Player";config<BRACKET>"autoStart"</BRACKET> = false;config<BRACKET>"preloadBackColor"</BRACKET> = "#FFFFFF";config<BRACKET>"useOverlayMenu"</BRACKET> = "false";config<BRACKET>"width"</BRACKET> = 265;config<BRACKET>"height"</BRACKET> = 255;config<BRACKET>"playerId"</BRACKET> = 1243645856;createExperience(config, 8);
Guy Adami said on
's "Fast Money" TV show that the deal was chump change for a company the size of H-P. He said investors should take advantage of any weakness in HP and
Research In Motion
to get into those stocks.
Karen Finerman said HP is a "great buyer" and realized Palm was deterioriating quickly. She said the deal stumped her because she didn't understand why H-P would pick someone which "was last" in the smartphone market.
Gary Kaminsky also said the deal didn't make a lot of sense, but added he respected the judgement of Mark Hurd, H-P's CEO, in making acquisitions.
Jim Goldman, a
reporter, said the acquisition will allow H-P to get into the smartphone sector cheaply. He said the deal will give H-P an operating system to run a new crop of mobile devices.
Peter Misek, an analyst with Canaccord Adams, said the deal will provide a sense of relief for Palm shareholders. He said Palm had burned far too much cash too fast, was having problems selling devices and was losing carriers and distributors.
Kaminsky said there were no other buyers for Palm and that the deal would be less expensive and time consuming for H-P to build up that business on its own.
Whitney Tilson, of T2 Partners, said he thought H-P could have wait a year for Palm stock to sink to $1 and save $1 billion.
Melissa Lee, the moderator of the show, noted that
was up 13.42% on blowout earnings. Seymour said Baidu's valuatioin is astronomical but it deserves it because it continues to beat the bar every quarter.
Lee brought in David Barger, CEO of
to comment on the consolidation going on in his industry. He said his company remains interested in partnerships such as the one it has with
. He said his company wants to go down that path instead of seeking mergers.
He also said JetBlue is seeing a stronger revenue environment in the first and second quarters.
Shifting to the Greece's debt problems, Peter Boockvar, chief equity strategist for Miller Tabak, discussed the ripple effects from the situation, including the impact of tough austerity packages of the countries that are deeply in debt, the higher costs of borrowing and funding for businesses and the impact of the worsening debt situation on the U.S. and Asia.
rallied after Tuesday's congressional hearing.
Kaminsky said the smart money such as sovereign funds and hedge funds were probably adding to their positions in Goldman. Anthony Scaramucci said it wouldn't surprise him if Goldman was buying its own stock as well.
Scaramucci thought Sen. Carl Levin (D., Mich.) did a good job in the hearing and that he was glad to hear CEO Lloyd Blankfein say that his company was reviewing its internal practices to make the firm better.
Lee brought in Dennis Gartman to comment on the
's decision to leave a key interest rate alone. Gartman said the Federal Open Market Committee has no intention of tightening policy for quite sometime. He said that move will drive the long end of the yield curve higher.
Gartman said he would invest in the Canadian dollar and gold.
In the final trades, Seymour liked
. Adami liked Research In Motion, while Finerman liked
and Kaminsky liked Goldman.
-- Written by David Tong in San Francisco
To watch replays of Cramer's video segments, visit the Mad Money page onCNBC
"'Fast Money'Portfolios of the Week" on Stockpickr every Thursday.
Follow TheStreet.com on
and become a fan on