NEW YORK ( TheStreet) -- The markets rallied off the lows Tuesday on a move to beef up the eurozone rescue efforts. The Dow Jones Industrial Average was up 52.30, 0.43%, to 12,150.13. The S&P 500 rose 1.39, or 0.11%, to 1258.47. The Nasdaq lost 6.20, or 0.23%, to 2649.56. Melissa Lee, the moderator of CNBC's "Fast Money" TV show, started the panel discussion when she brought in Carl Icahn to comment on his $1.73 billion cash bid for Commercial Metals ( CMC). Icahn, whose firm has a 10% stake in the company, said his bid has energized the stock and hopefully the shareholders to support his bid. For a breakout of some stocks from a recent "Fast Money" TV show, check out Dan Fitzpatrick's "3 Stocks I Saw on TV."
Contrary to his failed bid for Clorox ( CLX), Icahn said the bid for Commercial Metals has shareholder backing, adding he would need a big turnout for the tender to succeed. Icahan also said he supports the idea of a merger between Navistar ( NAV) and Oshkosh ( OSK), both of which he has stakes. He said the two companies would benefit from the synergies of a merger. Pete Najarian said the Jan. 14 calls in Commercial Metals were very active today. He wondered whether another bidder might step in the situation. Finerman and Lee pointed out the stock traded at a discount on the day that Ichahn made his bid. Lee noted that Netflix ( NFLX) took a hit today after Verizon ( VZ) launched a service to stream movies and TV shows over the Web. Any Hargreaves, of Pacific Crest, said he didn't think Verizon's move represented much direct competition for Netflix. He characterized Verizon's efforts more like taking a "cable-like bundle" that will done over IP in a nationwide effort. He disagreed with the panel that Netflix should be owned soley for its value as an acquisition target. He said Netflix is still offers an attractive customer service for $8. He said the long list of interested parties in Netflix includes names such as Microsoft ( MSFT), Apple ( AAPL), Amazon.com ( AMZN) and Google ( GOOG).
3 Stocks I Saw on TV
Lee switched to Todd Gordon, of Aspen Trading, for a currency trade. With the euro still having problems because of Europe's debt crisis, he advised shorting the euro against a long Australian dollar. Lee noted that crude oil prices rose above $100 a barrel today. Grasso said he expects the positive correlation between natural gas and oil plays to come to end in the next quarter. He said he would avoid mid-capitalized names in natural gas such as Comstock ( CRK). Terranova said investors could still be in natural gas if they invested in a name like Southwestern Energy ( SWN), which has learned to live with $4 natural gas. The undefeated Green Bay Packers is offering fans to own a piece of the team at $250 a share. Mark Murphy, the president and CEO of the Green Bay Packers, said the money raised from the sale of 250,000 shares will be directed toward updating the stadium. The stock, which is being bought more for sentimental value than anything else, is being sold through the Internet. Lee said General Electric ( GE) was one of the best performers in the market after it garnered an outperform rating and $21 price target from Sanford C. Bernstein. Steven Winoker, the Sanford Bernstein analyst who made the call, called attention to the prospects of a 10% dividend increase by GE in 2012. He also said the company's industrial and financial services operations are doing well. Shifting to the Volatility Playbook, Tim Freeman, of Elevation, LCC, said he expects volatility, which has been flat for the year, to come in. He said the S&P could be looking at 1300 if the upcoming meetings in Europe and at the Fed live up to expectations. Apple shares appear headed for a rebound in December. Mike Walkley, an analyst with Canaccord Genuity, said his company's checks around the globe show that Apple's iPhones are gaining market share in the smartphone market at the expense of Research In Motion ( RMM). He said Apple is on target to capture 60% of the global handset industry profits in its first quarter. Moreover, he expects iPhone shipments will jump 80% sequentially to 30 million units for the December quarter.
He said RIM hopes the situation will stabilize when its new BBX smartphones come out in May 2012. Kelly said he would look at Qualcomm ( QCOM) and Google ( GOOG) to play the mobile phone space. In the final moves, Kelly liked Range Resources ( RRC). Terranova said IBM ( IBM) has a date with $200. Grasso liked AeroVironment ( AVAV). Finerman favored Quadra in Toronto. And Najarian said the upside call action has been outstanding in Titanium Metals ( TIE). -- Written by David Tong in San Francisco. >To contact the writer of this article, click here: David Tong. To submit a news tip, send an email to: firstname.lastname@example.org. To watch replays of Cramer's video segments, visit the Mad Money page on CNBC. Follow TheStreet.com on Twitter and become a fan on Facebook.