NEW YORK (
) -- The markets moved higher Thursday on some strong earnings.
Dow Jones Industrial Average
added 72.35, or 0.57%, to 12,763.31. The
rose 4.82, or 0.36%, to 1360.48. The
gained 2.65, or 0.09%, to 2,872.53.
Melissa Lee, the moderator of
's "Fast Money" show, said that
Research In Motion
( RIMM) was down 10% in afterhours trading after it reported weak shipments of its BlackBerry phones and a shift toward lower-priced mobile phones.
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 RIM needs to change its business model, adding the lower end of the price range is "not the place where you want to be."
Tim Seymour said RIM's chart is broken, adding he didn't see much change in the offing.
Pete Najarian said he was adding to his position in RIM, as he was encouraged by the prospects of new products in the second half.
Anthony Scaramucci said RIM has been too complacent and hasn't done much to change its product design to meet the competition from
. He said that design change to its corporate devices has to be made or it risks extinction.
Stephen Weiss was surprised that RIM's management dared to guide their numbers to previous levels.
reporter Jon Fortt said RIM indicated in its conference call that there may be weakness in the U.S. and Latin American markets. He said that RIM may not be doing well in its ties with
. He also said RIM has not been doing a good job of communicating with developers about its new OS software.
In the second big tech story of the day, Lee focused on
, which beat revenue and earnings estimates but saw a decline in the sales of Windows 7.
Lee noted the decline in Window 7 sales matches the IDC forecast of a decline in PC shipments.
Seymour countered that PC sales aren't that bad and that Microsoft will be able to take advantage of a software refresh.
Scaramucci, though, said Microsoft has become a low growth technology company that has become a value stock that has had a difficult time catching the attention of value investors.
Colin Gillis, an analyst with BGC Financial, acknowledged there are still some unanswered questions about PC growth, namely whether it's in single digits as the IDC has indicated or whether it's in the double digits as
Nevertheless, Gillis said Microsoft is a good investment trading at 10 times earnings, growing its earnings faster than revenues and preparing to preview its Windows 8 operating system at an upcoming developers conference.
Lee asked Gillis why the stock is underowned by institutional investors. Gillis replied that it may have to with a rotating investor base and its 2.7% dividend yield.
Looking at derivative plays, Terranova said non-Apple table demand is beginning to weaken and that it may have to do with a softening global GDP. Najarian said some chip stocks are doing well, including Intel since its earnings and the programmable chipmaker
Lee brought in Doug Kass, a RealMoney Silver contributor at
, who had a contrarian view of the market.
Kass, who is shorting the market, said the
has given the green light to risk, despite continuing consumption and housing problems, and a market that is making the rich richer and poor poorer.
He said the economy is saddled with rising energy and food costs and a declining dollar. He said the political winds are going to push for major cuts in government spending that will lead to higher marginal tax rates and austerity.
How to trade silver hysteria? Najarian noted there was extremely heavy options activity in
iShares Silver Trust
Terranova said the spot price of silver could go parabolic if it rises about $50 an ounce. Scaramucci cautioned viewers to be very careful of the speculative silver bubble, saying the industrial use of the metal has been exaggerated.
Matt Hougan, of IndexUniverse, said the silver bubble is about the burst. He said silver has become the most liquid security in the world. He said the betting has reached such heights that $160 million has piled into the double inverse short silver ETF compared with $230 million in the
iShares Silver Trust
Although natural gas prices were surging today, Daniel. Fisher, of MBF Trading, told there panel there is still a lot of oversupply and potential downside risk. He said he was sticking to the sidelines.
For the call of the day, Lee noted that
( WFMI) was down 4.25% on a slowdown of orders to suppliers. Jon Gates, director of research for OTR Global, said his company picked up the first inflection point since last August of a fall in orders in the past four weeks for suppliers because of higher fuel prices.
Terranova said Whole Foods' woes could be good news for
. Scaramucci said
should be added in the mix.
In the final trades, Seymour said to sell
iShares MSCI Emerging Markets Index ETF
. Terrannova liked
. Scaramucci liked Supervalu, and Najarian favored the
Industrial SPDR ETF
--Written by David Tong in San Francisco.
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