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Target’s earnings were good, Jeff Macke says. They weren’t too exciting but they hit estimates and show that neither the economy nor the consumer is dead.
Wal-Mart misses estimates constantly and blames it on others which is what is giving its earnings less credence these days, Jeff says, but Target is a “good merchant” that puts out consistent numbers that show the consumer is not rolling over just yet.
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Trader disclosure: On Aug 21 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money; Macke Owns (INTC), (ATVI), (EMC); Najarian Owns S&P Puts; Constance Hunter Is The Founder And Owner Of Coronat Capital Management; Coronat Capital Management Owns (INFY),(H&M), (USO); Coronat Capital Management Owns Yen; Coronat Capital Management Owns VIX Options; Coronat Capital Management Is Short (FXI); Coronat Capital Management Is Short (EWH) But Owns Local-Listed Hong Kong Shares
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