NEW YORK (
) -- The markets were up today as General Motors finally announced plans for its long-awaited public offering.
Dow Jones Industrial Average
added 9.69, or 0.09%, to 10,415.15, while the
rose 1.62, or 0.15%, to 1,094.16. The
rose 6.26, or 0.28%, to 2,215.78.
Karen Finerman said on
's "Fast Money" TV show that she was curious what the pricing would be.
Pete Najarian liked the IPO but said a better play might be for
on a pullback to $11.50. Guy Adami said
would work as a downstream play.
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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Shifting to the retail sector, Finerman liked what
had to say in the second half, including its initiatives to attract budget-minded consumers.
Adami said he liked
valuation and would stay in the stock so long as it stays above $70. Najarian wasn't as enamored with the pick, saying Visa has been stuck in a range of $71 to $73. Joe Terranova said he liked
and its exposure to the affluent consumer.
Cortes said he would prefer to be crude rather than in Treasuries. He said crude is influenced by the Asian trade and the geopolitical situation in Iran, where an "incident" could lead to a 10% pop in the price of oil.
Terranova said he is staying with the gold, which was up again today. Finerman, though, expressed difficulties embracing gold as a hedge against inflation and deflation.
Commenting on the decision of legendary hedge fund manager Stanley Druckenmiller to throw in the towel because of his fund's unsatisfactory performance, Adami said the move is indicative of the difficulties of running large funds.
Cortes said he has been able to succeed by being small and nimble and executing overnight trades.
Eric Jackson, president of Ironfire Capital, expressed his disgust of
. He said the company is losing money, has $500 million in loans from the Department of Energy and has a CEO who works at two other companies.
Research In Motion
correspondent Jon Fortt said the company did not fare well in the initial sales of its Torch smartphone.
He dimissed the suggestion of
as being a possible suitor for RIM. He couldn't understand why Microsoft would be interested in RIM's email software when it has Outlook Exchange.
Commenting on the now hostile takeover attempt of
, Terranova said he likes what
is doing and believes Potash will continue to head north.
In a segment on outsourcing, Ron Shah, of Jina Ventures, said India outsourcing companies are taking advantage of the low wage rates to hire in the U.S. However, he stressed that the openings in the U.S. are at minimum wage levels while high-margin, highly skilled jobs are moving to India.
With the weekly jobless claims report coming Thursday, Terranova said the magic number would have to be below 465,000 numbers for the market to be bullish. Najarian said the report was eliciting bullish market sentiment today
In the final trades, Terranova liked
. Adami liked
, while Finerman favored Target. Najarian picked
. And Cortes picked oil.
-- Written by David Tong in San Francisco
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