NEW YORK (

TheStreet

) -- The markets ended mixed Wednesday after the

Federal Reserve

left interest rates unchanged.

The

Dow Jones Industrial Average

was up 30.23, or 0.31%, to 9,802.14, while the

S&P 500

added 1.09, or 0.10%, to 1,046.50. The

Nasdaq

fell 1.80, or 0.09%, to 2,055.52.

The Fed decided to leave its record-low benchmark interest rate alone. The Institute for Supply Management reported continuing improvement in the service sector, while the ADP National Employment Report said that job losses in the private sector declined for the seventh consecutive month.

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

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Melissa Lee, the moderator of

CNBC

's "Fast Money" TV show, said

Cisco

's

(CSCO) - Get Report

shares were surging in after-hours after its earnings beat expectations.

Guy Adami said he believes there is more upside for Cisco since it's cheap at 15 times forward earnings. Tim Seymour said the company beat on the top line and has done a good job of cutting costs and staff.

Pete Najarian was impressed with Cisco's expenditure of $7 billion in acquisitions this year. "And they're still sitting on $30 billion in cash," he said."The growth engine is back, and they're going into mobile in a big way."

Joe Terranova said Cisco's bullish report sets up well for the tech sector, which, he predicts, will see "pent-up demand" coming its way.

Jim Goldman, a

CNBC

technology reporter, said Chambers was very optimistic in the conference call about the outlook for his company and the economy.

Goldman said the company reported a noted improvement in gross margins (the best in four years), called a bottom in the past quarter and sees solid economic improvement in the current qurter.

Goldman said Chambers cited an improvement in markets around the globe and even the U.S. Chambers also said the company was going to increase capital expenditures and begin hiring.

Lee said Chamber's message was quite a turnaround from the previous quarter when he said the economy was on the "tipping point" of a recovery.

Terranova said Cisco's bullish market should get the market off on the right foot Thursday.

Turning to today's trading session, Terranova said Friday's jobless report looms big for the market. Seymour said today's selloff had all the trappings of the moves by managed futures accounts. "The machines are in charge," he said.

Adami said the financials were "lousy," all day, with

Wells Fargo

(WFC) - Get Report

and

Goldman Sachs

(GS) - Get Report

trading down.

Jim Iuorio, TJM Institutional Services director, said the dollar is due for a short squeeze because the trade has gotten too crowded. He also said the fundamentals for gold are such that it will continue to rise "no matter what scenario you paint."

Lee asked the panel whether the tech sector can rally behind Cisco's solid report. Terranova said the tech sector is different from other sectors because it is being driven by corporate global balance sheets that are driving demand and the PC upgrade cycle.

Adami told Lee that it's difficult to make a blanket statement about tech, and that it's better to analyze stocks individually as he said he has with

IBM

(IBM) - Get Report

and

Hewlett-Packard

(HP) - Get Report

Lee moved on to the "Obama Trade" and today's rally in the health insurer stocks follow the Republican victories in the gubernatorial races in Virginia and New Jersey.

Terranova said he didn't know if the uncertainty has been lifted because of the election results. Adami said he would get out of

Unitedhealth Group

(UNH) - Get Report

on the news.

Is M&A heating up following Buffett's acquisition of

Burlington Northern Santa Fe

(BNI)

?

Gary Kaminsky, former managing director for Neuberger Berman, said the message he got from the merger of

Stanley Works

(SWK) - Get Report

and

Black and Decker

(BDK)

is that the two companies believe the worse is over and the recovery will take five to seven years. He said the merger will generate cost savings and give them pricing power and shelf space for consumer goods.

Kaminsky mentioned three companies that may get together or be acquired. They were

Clorox

(CLX) - Get Report

,

Church and Dwight

(CHD) - Get Report

and

Ecolab

(ECL) - Get Report

. He said all three benefit from the trends toward cleanliness and health care.

Seymour talked about a number of companies that are looking to ramp up growth in China.

Walt Disney

(DIS) - Get Report

announced plans to put a Disney theme park in Shanghai.

Novartis

(NVS) - Get Report

is projecting it will spend $1 billion on R&D projects in China. And Cisco has bought a cable box maker in China for $44 million.

Lee brought in Deborah Weinswig, a Citigroup retail analyst, to comment on the monthly retail sales report that comes out Thursday. She said she hopes to see a significant decrease in clearance inventory.

She said she expects to get an update on third-quarter earnings, which she hopes will show very strong gross margins as a result of a decrease in clearance inventory.

She expects Macys to beat earnings. She also told the panel that she likes

JC Penney

(JCP) - Get Report

because it has done a good job of landing exclusive brands like

Liz Claiborne

(LIZ)

at its stores.

Lee brought in Charles Gasparino, a

CNBC

editor, who talked about Thomas Maheras, who was ousted from

Citigroup

(C) - Get Report

in 2007 and was the man behind the investments of tens of billions of dollars in toxic funds.

Gasparino said Maheras has found a job running a new hedge fund that is up 84% this year on primarily two investments:

Advanced Micro Devices

(AMD) - Get Report

and Citigroup.

Gasparino said Maheras reportedly even has a prime brokerage account at Citigroup to process trades and lend him money.

There were no final trades.

-- Written by David Tong in San Francisco

To watch replays of Cramer's video segments, visit the Mad Money page onCNBC

.

"Check out

"'Fast Money'Portfolios of the Week" on Stockpickr every Thursday.

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