3 Stocks I Saw on TV
NEW YORK ( TheStreet) -- The markets rose modestly Thursday on light trading. The Dow Jones Industrial Average added 4.39, or 0.04%, to 11,989.03. The S&P 500 added 2.36, or 0.18%, to 1,298.99. The Nasdaq rose 15.78, or 0.58%, to 2,755.28. Amazon.com ( AMZN) was trading down in afterhours trading after a fourth-quarter revenue miss. Karen Finerman said on CNBC's "Fast Money" TV show that Amazon didn't have a "horrible quarter" but that she was concerned about its high valuation and the ability of the company to sustained its extremely high multiple. For a breakout of some stocks from a recent "Fast Money" TV show, check out Dan Fitzpatrick's "3 Stocks I Saw on TV."
She said she would consider looking at the stock if its multiple gets down to the 30's, as opposed to 74, where it is at now. Joe Terranova said the momentum behind the stock has changed. He said investors will be looking at Amazon's potential going forward, especially its fulfillment centers. Terranova said Amazon's revenue growth of 30% had been priced into the stock. He said it is going to be struggling from the holiday season to the middle of the year. He said he expects analysts to bring down their estimates Friday. Jon Najarian said the time to buy Amazon is when it is going up. He said the stock is heading down, to the $150's. Tim Seymour said he didn't own the stock, but that he was going to wait for the stock to settle down. CNBC reporter Scott Wapner, who was in on the Amazon call, noted a slowdown in Amazon's sales overseas as well as disappointing gross margins. Microsoft ( MSFT) was holding its own in afterhours after better-than-expected results. What caught the attention more than the results was the early release of the earnings. CNBC senior stocks commentator Herb Greenberg said Selerity, a research firm, put out the earnings at 2:50 p.m. EST after finding it on a company Web post. He said Selerity was just doing its job as a data miner. Finerman, who owns Microsoft shares, said it was a very good earnings report, adding the software giant remains a favorite for its "compelling" valuation.