NEW YORK (TheStreet) -- West Texas Intermediate slid 3.3% on Thursday, finishing the day below $75 per barrel. Shares of Baker Hughes (BHI) rocketed higher by 15.6% as well, after reports indicated that Halliburton (HAL - Get Report)  is working to take out the company. 

Oil service stocks, like Halliburton and Baker Hughes may have bottomed, even though oil hasn't, Brian Kelly, founder of Brian Kelly Capital, said on CNBC's "Fast Money."

Some high quality oil service stocks are looking attractive, according to Guy Adami, managing director of Specifically, he likes Schlumberger (SLB - Get Report) .

Baker Hughes and Halliburton are "two very fine companies," said Dan Nathan, co-founder and editor of However, investors should wait for oil prices to bottom before getting long the sector. 

Pete Najarian, co-founder of and, said oil prices seem poised to move lower. Too many investors are getting margins calls, while oversupply continues to weigh on crude prices. 

OPEC, the Organization of Petroleum Exporting Countries, seems split on whether to lower oil prices or lower oil production, according to Anthony Grisanti, president of GRZ Energy. However, oil prices appear to be near a bottom and it would be unlikely for it to break below $70 per barrel.

For some reason, solar stocks tend to trade with the price of oil. Adami said investors can buy solar stocks like SunPower (SPWR - Get Report) if they believe oil will bounce soon. The stock is not expensive based on valuation, he added. 

Speaking of SunPower, its CEO and President Tom Werner was a guest on the show. Only 10% of the world's electricity is powered by oil, he said, so it doesn't make sense for the industry to trade with a high correlation to the commodity. The company plans to triple capacity over the next five years and margins are expected to expand, he added. 

Investors can buy the stock and use $25 a share as their stop-loss, Kelly said of SunPower. If that level breaks, wait until $16 to buy again.

Lower oil prices should ultimately help retail companies, particularly companies like Target (TGT - Get Report) , Walmart (WMT - Get Report) and the dollar stores, according Liz Dunn, retail analyst at Macquarie Capital. Customers for these companies are affected the most because they tend to drive more and demote more of their budget to gas costs. 

Lower gas prices should save consumers $300 to $500 per year. The slight boost could result in higher-than-expected holiday says, she reasoned. Dunn also likes Tiffany & Co. (TIF - Get Report) and Macy's (M - Get Report) on the long side. 

Tiffany & Co. seems expensive based on valuation, but the stock seems to have more upside, Adami said. 

The conversation turned to Twitter (TWTR - Get Report) , which gave up all of its gains from the previous day, following what seemed to be positive commentary from its Analyst Day on Wednesday. According to Nathan, shares are likely to trade between $35 to $45 for awhile. Investors should buy near the former and sell near the latter. 

Adami said Thursday's price action in Twitter was very discouraging. He recommended avoiding the stock for a few days. Najarian said he likes it near current levels for the longer term. 

Shares of Dreamworks Animation (TWTR - Get Report) shot higher by 14%, following reports that suggested Hasbro (HAS - Get Report) is planning to acquire the company for about $30 per share. Najarian said it doesn't sound like a good deal, and with shares of Hasbro down 4% on the day, investors seem to agree. 

Kelly said investors can buy Dreamworks Animation on this news.The stock is only at $25 and could have decent upside from here. Adami said he is a buyer of Lions Gate Entertainment (LGF) , which seems poised to make new highs.

For their final trades, Nathan is a buyer of Qualcomm (QCOM - Get Report) and Kelly is selling the iPath Copper Total Return ETN (JJC) . Najarian said to buy Microsoft (MSFT - Get Report) and Adami is a buyer of Schlumberger.

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-- Written by Bret Kenwell

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