Forex

On Monday night, Dylan Ratigan started the Fast Money program by saying "tomorrow looks like it's going to open up lower." He said this has to do with a number of companies that reported earnings and/or outlook below analysts' expectations.

The companies that were down after-hours included American Express (AXP - Cramer's Take - Stockpickr), Texas Instruments (TXN - Cramer's Take - Stockpickr) and Apple(AAPL - Cramer's Take - Stockpickr).

Texas Instruments was down about 9% to $26 after reporting earnings of 44 cents per share while analysts' expected 45 cents a share. Apple was down by 6% to $156.25 after beating third-quarter guidance by 11 cents but lowering its fourth-quarter earnings outlook -- it now expects to earn $1 a share, compared with analysts' expectations of $1.25. American Express is down about 11% to $36.60 after it reported its second-quarter results below analysts' expectations -- earnings came in at 56 cents a share while analysts expected 83 cents a share.

Jeff Macke said saying "Texas Instruments always misses." He went on to say how Apple reported good earnings but took a hit from its poor outlook.

Karen Finerman said she disliked how the company missed by a large margin. She still finds the stock attractive but said investors should wait until the stock drops to $35 before considering buying it.

Pete Najarian finds Apple attractive after taking a big hit. He said he feels Steve Jobs could be "sandbagging," which means he is offering low guidance only to exceed it later. He said he feels the company "could be a good opportunity" to buy at current levels.
Joe Terranova mentioned there are some trades that can be made as a result of American Express. He said you can use American Express as an indication to short Capital One Financial (COF - Cramer's Take - Stockpickr), since it could potentially report poor earnings as well. He said "using themes that you like and themes you don't like" can make you some profits right now. He suggests it is a way to be market neutral.

Finerman said he did not agree on being market neutral.
Energy Notes

Najarian brought up the rally with the coal stocks. He said investors should take some profits on the coal stocks and get back in after a pullback.

Ratigan asked Terranova about oil, what should investors do.

Terranova said "when you see a pullback on oil, it is an opportunity to buy, it's that easy."

Najarian went back to talk about Texas Instruments. He said the company's profits suffered as a result of the weakness in wireless.

Macke brought up how investors should stick with best of breed.

Ratigan interrupted by saying, "I thought you said American Express was best of breed."

All the panelists disagreed, saying American Express has upside potential but it is not best of breed.
Elsewhere in the Market

Finerman said she was surprised Bank of America (BAC - Cramer's Take - Stockpickr) rallied, after surging tremendously last week.

Ratigan brought up how Carl Icahn got a seat in the board for Yahoo! (YHOO - Cramer's Take - Stockpickr).

Najarian mentioned Genentech's (DNA - Cramer's Take - Stockpickr) news on being bought out for $89 a share from Roche. He said that with the stock trading higher than the bid, $93.88, investors feel they can get a higher offer.