NEW YORK (TheStreet) -- The S&P 500 slid 0.31% but the trading panel on CNBC's "Fast Money" TV show was focused on oil.
Pete Najarian, co-founder of optionmonster.com and trademonster.com, said investors are rotating out of energy stocks amid falling energy prices. Transport stocks such as Norfolk Southern (NSC) , Canadian Pacific Railway (CP) and Canadian National Railway (CNI) plus airline stocks are moving higher, he added.
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Tim Seymour, managing partner of Triogem Asset Management, said oil prices seem likely to continue moving lower and will be a negative for refinery stocks, such as Tesoro Corp. (TSO) .
Dan Nathan, co-founder and editor of riskreversal.com, reasoned that many major asset classes have experienced an uptick in volatility such as global equities, currencies and commodities. But the volatility has not yet returned to the U.S. stock market.
He said Annie's has a "terrific brand" that has many different categories for its food. The natural food is appealing to the public and specifically to the millennial generation. Other brands such as WhiteWave Foods (WWAV) and Boulder Brands (BDBD) could be other takeover targets, but Annie's was the favorite pick in the space, he concluded.
Karen Finerman, president of Metropolitan Capital Advisors, suggested Hain Celestial Group (HAIN) could be both a takeout candidate and a potential acquirer.
Seymour said General Mills looks interesting on the long side and he is long Pinnacle Foods (PF) .
Nathan said it's healthy for there to be M&A in a bull market as long as the deals do not take place with egregious valuations.
Najarian suggested that Campbell Soup (CPB) could be a potential acquirer in the future. He added that the energy sector seems the most likely to experience consolidation.
Seymour said General Motors' (GM) self-driving car aimed to launch in 2017 is impressive technology but is unlikely to have much of a short-term effect on the stock