'Fast Money' Recap: A Barely Moving Market

NEW YORK (TheStreet) -- The S&P 500 closed up 0.01% while the Dow Jones Industrial Average fell 0.19%. 

On CNBC's "Fast Money" TV show, Brian Kelly, founder of Brian Kelly Capital, said Twitter (TWTR) and Facebook (FB) do not face the type of competition Yelp (YELP) does. He is looking to buy Twitter in the low-$40s.

Pete Najarian, co-founder of optionmonster.com and trademonster.com, added that Twitter is growing both revenue and its user base. However, it remains to be seen if it can sustain that user growth. He reasoned that the stock can find support near current levels. 

Read More: The Market's Roller-Coaster Ride Continues With Volatility at the Forefront

Tim Seymour, managing partner of Triogem Asset Management, said Yelp needs to demonstrate international growth like Facebook and Twitter. Yelp needs to continue growing revenue and users as well. 

Guy Adami, managing director of stockmonster.com, said Yelp posted good growth, just not good enough growth to please investors. However, it looks good on the long side with a $72 stop-loss.

Neil Doshi, managing director at CRT Capital Group, said Yelp's decline in business signups is the reason for the selloff in the after-hours trading session. The 5,900 new business users is the first year-over-year decline in six quarters. 

Seymour said to avoid stocks such as Banco Macro (BMA), BBVA Banco Francs (BFR) and Telecom Argentina (TEO) amid Argentina entering a technical default. 

Kelly added that investors should keep an eye on YPF Sociedad Anonima (YPF) for an idea on how the situation in Argentina may play out. 

Adami said Whole Foods Market's (WFM) business model may be broken because the company is not posting the type of growth it once did. The valuation does not justify the current price and short-sellers may push the name lower. 

Seymour admitted that growth has been slowing at WFM, but said the stock may have some value. If it fails to hold $36 investors should not be long the stock, but he is not selling the stock short. 

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Najarian bought shares of Whole Foods in the after-hours. He reasoned the $1 billion share repurchase plan will help and the recent selloff offers a good opportunity to get long.

Kelly agreed with Najarian, saying the bad sentiment may coincide with a bottom in the stock price. 

On Monday Najarian pointed out the bullish options activity in shares of RF Micro Devices (RFMD). Again on Wednesday there was more activity, specifically in the September $13 calls. He is long the stock. 

Kelly said investors should wait for shares of Weight Watchers International (WTW) to pull back to $21 before getting long. 

Seymour also said investors should wait for a pullback before getting long Shutterfly (SFLY), but the "worst seems to be over." 

Seymour said Apple's (AAPL) iPhone sales in the previous quarter were strong. However, if the larger screen iPhone 6 is significantly delayed it will likely hurt sales over the short term. 

Adami advised investors to "be careful" with Corning (GLW) near current levels. He said the stock seems likely to pull back to the mid-teens before going back to $20. 

Behrooz Abdi, CEO and president of InvenSense (INVN), was a guest on the show. He did not say whether his company's components will be in any upcoming Apple products. However, he expects this quarter, next quarter and full-year results to be strong. He said every region and every product is seeing strength as the company continues to take market share. 

Adami said shares of INVN are worth owning at current levels but advised investors to have a "strong stomach," because it's a volatile name to own. 

Paul Hickey, co-founder of Bespoke Investment Group, was a guest on the show. Regarding the 4% second-quarter GDP growth in the U.S., he said it should add even more strength to the U.S. dollar. Investors should realize that a stronger U.S. dollar will help companies with more domestic exposure, including Wells Fargo (WFC) and Republic Services (RSG), and hurt companies with more international exposure, such as Boeing (BA) and Estee Lauder (EL). 

Adami said investors should buy shares of Republic Services with a stop-loss at $35. The stock isn't expensive and even pays a small dividend. Kelly is a seller of Wells Fargo because he anticipates higher interest rates, which will hurt Wells Fargo's mortgage business. 

Read More: Why Tesla Needs the Gigafactory More Than Strong Model S Sales

Hess (HES) climbed 2% and was the first stock on the show's "Pops & Drops" segment. Narjarian said, "I like the name" but suggested investors wait for a pullback before getting long. 

Garmin (GRMN) dropped 6%. Adami said investors should wait a few days for the stock to settle down before getting long again. 

Barclays (BCS) jumped 4%. Seymour said investors should sell into the stock's move higher. 

Netflix (NFLX) popped 2%. Kelly said the company still faces expense issues and investors should sell into the stock's strength.

Najarian said he continues to like shares of Goldman Sachs (GS) on the long side. 

Glu Mobile's (GLUU) problem is that it has to continually commit a lot of money and resources to new products that management hopes will be successful, Kelly said. He is not a buyer, nor is Seymour.

Kelly said Mobileye has impressive technology but questioned if it could have liability issues in the future. Adami wondered if Mobileye's upcoming initial public offering, scheduled for Thursday, could mark a short-term top in the auto market. 

Seymour said Mobileye deserves a higher multiple than Tesla Motors (TSLA) since it does not build cars. He also reasoned the auto industry only appears to be halfway through its "refresh cycle."

Read More: Whole Foods Q2 Beats Street, Ends Share Buybacks

For their final trades, Seymour is a buyer of Citigroup (C) and Kelly is buying the ProShares UltraShort 20+ Year Treasury ETF (TBT). Najarian is buying Yahoo! (YHOO) and Adami said to buy LinkedIn (LNKD). 

-- Written by Bret Kenwell in Petoskey, Mich.

Follow @BretKenwell

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Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter.

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