Published On: Tue, Oct 7th, 2014

4 Fast Money Stock Picks for Tuesday: EMC, XLE, MTW, XOM

200282932-001

The traders of CNBC’s Fast Money discussed first trades for Tuesday October 7.

Pete Najarian would buy EMC (EMC). Earlier on the program, Dan Ives said EMC should spin off its 80% stake in VMWare to create value. Recently, the company reported that high-end storage sales saw a 25% year over year decline and a 8% fall in external storage sales. However, integrated infrastructure revenue rose by 100% compared with Cisco, which only saw a 48% increase, according to Seekingalpha.

Dan Nathan recommended Energy Select Sector SPDR ETF (XLE). The price of oil has plummeted to $92, despite geopolitical tensions, which usually drive up oil prices. The International Energy Agency cut its forecast for global oil demand for the third straight months. Those who suggest being long XLE argue that oil cannot continue its freefall much longer.

Karen Finerman is bullish on Manitowoc (MTW), because she thinks it is likely the company will split up its crane business from its food service segment. The stock dropped 4.3% on the news that Relational Investors, which has a stake in MTW, is winding down its operations and will sell its holdings.

Guy Adami is bullish on Exxon (XOM), which is expected to be hit by Ebola, as much of its drilling is in Nigeria. Exxon bulls suggest buying the stock on its current decline.

Read more about: , , , , , , , , , , , , , , , , , , ,

Wordpress site Developed by Fixing WordPress Problems