The U.S. stock market dropped anchor Friday, as blue-chips closed with mixed results and the tech sector posted modest gains. The Dow lost 0.1%, the S&P 500 was up 0.2% and the Nasdaq added 0.6%.On CNBC's "Fast Money" TV show, Jeff Macke said he's long technology, but he urged investors to sell the big moves in the space. He said Cisco ( CSCO - Get Report) and Intel ( INTC - Get Report) were good performers. Guy Adami said that a breakout in Dell ( DELL) shares is unlikely from here. Pete Najarian observed that Dell had reported two losing quarters in a row before beating estimates in the most recent quarter. He said he was impressed by the company's improved international exposure, and he says there's more upside in the stock.
Najarian said that the oil service sector is not dependent on oil prices. He said that oil companies still need to find new oil, regardless of price. He said Baker Hughes ( BHI) and Transocean ( RIG - Get Report) are two such companies. He also said solar stocks were on fire on news that Germany wouldn't cut aid to the sector nearly as much as people had feared. Macke said that next week is a big week for both the S&P and crude. Adami said stocks won't necessarily go up even if commodities go down.
Harbinger Capital is buying a stake in Cleveland-Cliffs ( CLF). Najarian also pointed out that Exxon Mobil ( XOM) insiders are selling shares. He advised viewers to take a look at SandRidge ( SD), which has also seen heavy insider buying. Adami pointed out that Cleveland-Cliffs has pricing power, just like the steel sector.
I like Home Depot management because it's straightforward about headwinds, said Finerman. The traders spoke with former AMR ( AMR) Chairman and CEO Robert Crandall about the government's current transportation policy. Crandall advocated limiting the number of flights permitted in and out of crowded airports. That would keep planes from wasting fuel by idling on the runways, he said. He also said it would be wise to fix train tracks between New York and Boston to stop as many short flights from leaving the ground. Adami said that if the government implements the initiatives Crandall described, engineering stocks would be the way to go.