3 Stocks I Saw on TV
NEW YORK ( TheStreet) -- A big executive shakeup at Google ( GOOG) and major board changes at Hewlett-Packard ( HPQ) dominated the trading panel discussion on Thursday's CNBC's "Fast Money" TV show. The two big tech stories come on a down market day. The Dow Jones Industrial Average dropped 2.49, or 0.02%, to 11,822.80. The S&P 500 lost 1.66, or 0.13%, to 1,280.26. The Nasdaq fell 21.07, or 0.77%, to 2,704.29. For a breakout of some stocks from a recent "Fast Money" TV show, check out Dan Fitzpatrick's "3 Stocks I Saw on TV."
Karen Finerman said on CNBC's "Fast Money" TV show that she didn't like Google's shakeup but was willing to give the company the benefit of the doubt. The shakeup calls for co-founder Larry Page to replace CEO Eric Schmidt, who becomes executive chairman. Co-founder Sergey Brin takes on new responsibilities in strategic products and new products. Terranova said the change will lead analysts on Friday to dabble about revenue projections and price targets. But he viewed the changes as a defensive move against Facebook and the social networking space. Brian Kelly said he was worried about the loss of Schmidt as CEO, while Guy Adami said the Street will give Page a pass. Aaron Rakers, an analyst with Stifle Nicolaus, said he was concerned about the change because it puts a technologist in a position that is usually more suitable for a person with business experience. For instance, he said Google's pullout of China over censorship issues was driven by the founders. In the other big tech story, H-P brought in five new board members, including Meg Whitman, former CEO of eBay ( EBAY). Finerman said she liked the changes, although she noted the five members who elected CEO Leo Apotheker in, are gone. Daniel Niles, co-CIO of Alpha One Capital Partners, said the addition of Whitman will bring a lot of experience on the consumer side and "hopefully will yield good benefits." But Jon Fortt, a CNBC tech reporter, wondered whether Whitman's consumer experience at eBay lines up with H-P's consumer demands in the tablet and mobile space.