Fast Money Traders Share Their Views On Stocks Making Headlines On October 13

On CNBC's Fast Money, Stephen Weiss discussed the news about J C Penney Company Inc JCP. The company announced that Marvin Ellison is the new CEO and the stock got downgraded by UPS analyst who feels that the company's earnings targets are just too optimistic. Weiss thinks that the new CEO is a good guy, but the stock is not going anywhere in the next year or two. Mike Murphy explained that Vale SA (ADR) VALE and Petroleo Brasileiro Petrobras SA (ADR) PBR traded higher after the release of a poll which claims that the current President of Brazil is losing the race for her second term. There were also speculations that the price of iron ore has bottomed. Josh Brown is a buyer of Mobileye NV MBLY on the dip. He said that the stock traded sharply lower together with other momentum stocks. Pete Najarian sees a buying opportunity in AutoNation, Inc. AN after the stock plunged 8.01 percent. It traded lower after Lithia Motors Inc LAD announced that its earnings result is going to be lower than it previously expected.