NEW YORK (
) -- The markets were flat Monday amid inflationary concerns.
Dow Jones Industrial Average
was down 26.11, or 0.21%, to 12,479.88. The
fell 2.13, or 0.16%, to 1335.25. The
gained 5.72, or 0.20%, to 2,825.88.
The trading panel focused on
's "Fast Money" show on
which was falling in afterhours trading on a lower EPS guidance of 93 cents to $1.15 vs. the consensus estimate of $1.19.
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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Joe Terranova said Netflix faces the problem of growth going forward and fighting competitors like
. He said if the past five quarters are a guide, the stock will go with the momentum the day after its earnings report.
Tim Seymour said Netflix faces high content costs, while Steve Grasso said he has told his clients to stay clear of the stock. Brian Kelly said it's a wonder the stock is at the price level it is, given its poor online content.
senior stocks commentator Herb Greenberg found it puzzling for a growth company like Netflix to be doing a $180 million stock buyback. "What growth company pays a dividend?"
Seymour said a high-flying stock like Netflix faces the difficult challenge of knocking it out of park in earnings and it didn't do it this time.
reporter Julia Boorstin said investors will be looking closely to see if Netflix can increase its U.S. subscriber growth at the rate it's been going and expand internationally. She said the biggest challenge will come from the competition in the form of free on-demand Internet video.
Looking at the markets overall, the panel marveled at the ascent of the price of silver and said it will continue to go higher despite what
Chairman Bernanke says at Wednesday's press conference. Kelly said he was going to stay short the dollar into the press conference.
Melissa Lee, the moderator of the show, noted that
made a $7.7 billion bid for Equinox, outbidding China's Minmetals.
Finerman said the risk-reward behind the deal is interesting and indicated there's a high probability that the deal will close. Terranova noted
has been trading well in the face of lower copper prices. He said the Chinese have been trying to get their hands on a copper produce without much success.
topped the tape. However, Kelly said it was difficult for him to get long the chip sector when PC growth is slow and inventories are high in Asia. At the same time, he said it was difficult for him to short Intel because of the upside momentum in the stock.
Seymour said it will be hard for Intel to break $22.
Lee asked the panel what effect will the end of QE2 have on Treasuries. Terranova said he believes the yield curve will flatten if QE2 ends. Seymour agreed but he said it won't be a disaster to consumers or banks. Kelly said he sees the downward trend in rates continuing, which he said will be bullish for the markets.
In a 360-degree look at
, Aaron Kessler, an analyst with thinkequity, was mixed on its earnings, seeing a strong top line but a flat-to-down bottom line. Oppenheimer chartist Carter Worth said he is buyer and sees a big upside move in the stock. Options trader Brian Stutland also said he is a buyer.
Seymour was also positive on the stock, which he acknowledged is expensive at 70 times earnings but has shown its worth in its game-changing move in cloud-based music distribution.
Lee brought in John Stephenson, senior vice-president of First Asset Investment Management, who sees silver heading to $60 an ounce by the end of year. He said institutional and retail investors have stepped up buying silver, particularly in China where retail investors are getting into gold and silver because they are getting very little in return from their savings accounts.
Gold, by the way, hit an intraday high of $1,519 an ounce, while silver neared at all-time high of $50 an ounce.
Stephenson doesn't see a silver bubble in the horizon, noting the metal is about half way through the cycle, which is being fueled by unprecedented debts that aren't going to go away anytime soon.
Stephenson acknowledged the unperformance of silver miner names and suggested three gold companies because of their exposure to silver. First, there's
, a gold company with 40% exposure to gold. Then there's
and a 54% exposure to silver, and finally
with a 20% exposure to silver.
He said these three stocks are going to rise sharply when they report their earnings because of their exposure to silver.
For the hedge fund pick of the week, Anthony Scaramucci returned to
, which was his pick in February. He said he still likes the stock which trades at 9 times earnings in 2011 and 8 times earnings in 2012.
He said the downside risks on its multiple sclerosis drug are lower than the Street expects. He said those risks are coming from
's phase 3 clinical tests of its multiple sclerosis drug. He has a $70 price target on Teva, which closed at $45.71. today.
In the final trades, Seymour said to take profits in
. Grasso liked
. Finerman liked
And Terranova said he was selling half of his stake in
--Written by David Tong in San Francisco.
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