'Fast Money' Recap: Halting the Slide

NEW YORK ( TheStreet) -- The markets were able halt their three-day losing streak, finishing in positive territory on Thursday.

On CNBC's "Fast Money" TV show, Karen Finerman said she is not as bullish about the back-to-school season as she once was. She is still a buyer of Macy's ( M) and Foot Locker ( FL), but wants to avoid teen retailers.

She added that J.C. Penney ( JCP) could continue to lose market share, but thinks that the lion's share is already gone,

Dan Nathan said the Consumer Discretionary SPDR ETF ( XLY) is only 1% from its all-time highs, showing that investors continue betting on the sector despite disappointments from individual stocks.

Guy Adami said it might be time to take profits in Michael Kors ( KORS) and that MasterCard ( MA) and Visa ( V) were the best ways to play retail.

Brian Kelly said to stay away from Monster Beverage Co. ( MNST) because of legal headline risks, but longs already in the name should wait to see if it will bounce off the 50-day moving average.

Carter Braxton Worth, chief market technician at Oppenheimer & Co., said the defense sector has gotten too ahead of itself. He added that the group is 17% above the 150-day moving average and believes it will underperform going forward.

Adami argued the call, saying Lockheed Martin ( LMT) not only beat on its last earnings report, but raised guidance significantly. He said not to fight the tape on this one.

Tesla Motors ( TSLA), which beat top- and bottom-line earnings estimates, was the first stock on the show's "Today's Trending Trades" segment. The stock is up over 360% for the year to date.

Nathan said it's getting hard to justify the price. Although he didn't advise shorting it, he didn't recommend going long either.

Groupon ( GRPN) was up 22% on Thursday after reporting earnings. Adami said there could be a bit more upside.

Freeport-McMoRan ( FCX) popped higher due to positive Chinese data. Kelly said that he is worried about the validity of the data and suggested taking profits.

Nathan said that he would not initiate a position in Priceline.com ( PCLN) after it beat on earnings.

International Business Machine ( IBM) was the featured stock on the show's "Street Fight" segment. Finerman took the bull side and said the stock is not only cheap compared to the S&P 500 and tech sector, but is on its own historical price/earnings valuation, too. She added that Europe is getting better and the company's backlog is strong.

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