The Word On Starbucks, And WWE's McMahon
STARBUCKS AFTER HOURS:
The headline: Starbucks (SBUX), The World's Largest Coffee Company Surges After Hours As Quarterly Earnings Jump 18%
The word: Jeff Macke wants to be cautious here. Starbucks hit its number but revenue is weak and the stock is up. That’s a selling opportunity, he says.
NO MORE SLIPPING:
The headline: Crocs (CROX) Rebound to New High As The Shoemaker Jumps 14 Percent After Hours
The word: Eric Bollings, a longtime hater of Crocs admits he was wrong and praises the company’s performance.
THE REFINING TRADE:
The headline: How To Trade Refiners Following Tesoro's (TSO) 7% Plunge On Earnings Thursday
The word: On Monday, Eric says he bought the $120 puts on Tesoro as it traded at $122, because, while he loves the refiners, he thought they were a bit rich. When a stock like Tesoro gets so far ahead of itself, investors should take a profit, he says. He’s bearish on Tesoro right now, but bullish on the sector long term.
The headline: Armor Holdings (AH), The Largest Maker Of Humvee Armor For Iraq War, Rises To 52-Week High
The word: Guy Adami likes this stock. The Department of Defense named Armor as a company that could potentially benefit from a supplemental defense bill. The stock was up 8% today on 9x normal volume, he says, and it’s a good time to take profits.
FIREWALLS ON FIRE:
The headline: Symantec (SYMC), World's Largest Security Software Maker, Jumps 5% As Earnings Beat Estimates
The word: Eric Bolling and Jeff Macke both like Symantec as a play on the digital revolution, and Tim Strazzini likes it as well – but because he’s bullish on the internet security space overall, he says.
The headline: World Wresting Entertainment (WWE) Body Slamming Wall Street Estimates; Shares Up 8% As A Result.
The word: Linda McMahon, CEO of World Wrestling Entertainment, joins the guys on the Fast Line to discuss the company’s blowout earnings.
MacMahon says she’s happy with the quarter and wants to keep the trend going into the summer, when the WWE’s big SummerSlam pay-per-view event takes place.
Dylan asks if the Ultimate Fighting Championship has taken any of WWE’s customers, but MacMahon says they are two separate entities. “[UFC] is a sports business and we are an entertainment business,” she says.
Questions? Comments? firstname.lastname@example.org Trader disclosure:
On May 3, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders:
Macke owns (SWY), Strazzini owns (JBLU),(VZ); Bolling owns (DIS), (TSO) Puts,
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