'Fast Money' Recap: Late on Exxon, Early on China

NEW YORK (TheStreet) -- All three major indices closed near the highs of the day on Friday.

On CNBC's "Fast Money" TV show, Guy Adami, managing director of stockmonster.com, said Exxon Mobil (XOM) could still have upside potential, but those looking to buy now are a "little late to the game."

Warren Buffett recently purchased 40 million shares of Exxon Mobil for $3.1 billion, so the price is naturally rising.

Brian Kelly, founder of Brian Kelly Capital, said WTI crude oil keeps going lower because more and more supply keeps coming online. He suggested shorting Pioneer Natural Resources (PXD).

Tim Seymour, managing partner of Triogem Asset Management, said he likes XOM and General Electric (GE).

Stuart Frankel & Company's Steve Grasso said the refinery stocks should keep benefiting if WTI crude keeps going lower, but acknowledged the stocks seem to be getting a little too extended.

Bill McDermott, co-CEO of SAP AG (SAP), was a guest on the show and said his company is very focused on China. He added that the country has a ton of potential with the cloud and in big data. McDermott said that constant innovation allows it to stay ahead of its competition and it is currently focused on growing organically, not through M&A.

Seymour said emerging markets won't be able to rally without the participation of China. He added that likes SAP, Pepsico (PEP) and Mead Johnson Nutrition (MJN).

If China continues to lessen restrictions within the country, Grasso said he likes Las Vegas Sands (LVS) and Wynn Resorts (WYNN).

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