Trader Zach Karabell held positions in and Baker Hughes.

“They certainly have underperformed what seems to be pretty decent business,” he said. “You also feel that they don’t have a lot lower to go.”

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Trader disclosure: On Jan. 31, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders: Terranova is long VRTS; Terranova is long LQD; Terranova is long MUB; Terranova is long EMC; Terranova is long AXP; Terranova is long JOY; Terranova is long MCD; Terranova is long OXY; Terranova is long IBM; Terranova is long SU; Terranova is long TRLG; Terranova is long CNX; Terranova is long SBUX; Terranova is long SNDK; Terranova is long GOOG; Terranova is long MA; Terranova is long UNG April $5 puts; Terranova is long AAPL Feb 430 puts; Terranova is short AAPL put spread; Terranova is short AAPL Feb 440 puts; Kelly is long GLD; Kelly is long XLF; Kelly is long KRE; Kelly is long TLT; Karabell is long IBM; Karabell is long FCX;

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