Talk From The Trading Floor On Saks, Sirius & More
Want the lastest information on today's top trades. Look no further! Plus find out what Wall Street heavy hitters are saying to one another about today's wheeling and dealing.
HOUSING MARKET “SUCKS”
The news: The chief executive of home builder D.R. Horton (DHI) said at an analysts' conference that the current year for his company was "going to suck," spurring worries about weakness in housing.
The word: Eric Bolling says he’s right! All 12 months of the calendar year. Eric think these guys are in trouble.
SAKS: THE SAKS EXCHANGE
The news: Saks (SKS) stock soars as same-store sales jumps 25% in February.
The word: Guy Adami says their revenues were unbelievable. They got rid of moderately priced department stores which was a smart move and they're focusing on the high end Saks stores. He’s staying with this stock.
The news: Sirius Satellite Radio (SIRI) Chief Executive Mel Karmazin clarifies testimony, says subscribers will not see higher prices after merger.
The word: Jeff Macke says you can buy Sirius on the panic side – he doesn’t like how restrictive the FCC is being on this deal. He says buy Sirius on extreme dips.
TAKE TWO’S BOARD TAKE OVER:
The news: Take-Two Interactive Software’s (TTWO) stock jumps as shareholders form plan to take over board.
The word: Tim Strazzini says 40% of revenue for this company is from the game 'Grand Theft Auto.' He thinks there’s two dollars on the upside – but it will be a wild ride.
WHAT’S WORKING: COMMODITIES
The news: Commodities and their derivatives are seeing a resurgence
The word: Eric says oil, gold and grain are all up. He thinks they’re all good picks right now.
The news: Yesterday’s Fast Money aired an exclusive interview with market guru Dennis Gartman who predicted a global bear market.
The word from our viewers: Frank B. from West Virginia wrote to us saying Gartman is right on the money! Eric says the show should rename Gartman the “Golden Bear” because he likes gold. He says Gartman could be onto something, but is not ready to join him on his prediction.
On MAR 7, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders. Strazzini Owns (HAL), (YHOO), Is Short (WCG). Bolling Owns (BP), (XOM), Gold, Silver, Soybeans, Is Short S&P Futures, Is Short Nasdaq Futures, Is Short Corn
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