Stocks On The Move In '07
STOCKS THAT POPPED
Amazon (AMZN) – Jeff Macke thinks the retailer has topped.
CSX Corp. (CSX) – This was one of Guy Adami’s first picks on the show and he’s still behind it. It helps that Warren Buffett is a fan, too, he says.
Freeport-McMoRan (FCX) – The Indonesian government is still putting pressure on FCX to control its output, which is positive for copper prices, Tim Seymour says. He thinks it will remain strong.
Fluor Corp (FLR) – This stock, one of the biggest public engineering companies, outperforms the market even on bad days, Guy Adami says.
Juniper Networks (JNPR) – The company is projecting even more growth and Pete Najarian has been recommending it for some time. He’s also a buyer of Cisco (CSCO).
Apple (AAPL) – It’s still going higher, Guy Adami says.
CVRD (RIO) – Be careful, Tim Seymour says. If Asian industrial demand slows, CVRD could get hurt as it is heavily levered to that market. Otherwise it has great diversification and record earnings in the second quarter – Tim still likes it in this environment.
EMC (EMC) – The “crown jewel” of the digital revolution owns 90% of VMware (VMW), the summer’s hottest IPO and Guy Adami think it’s only going higher.
STOCKS THAT DROPPED
Amgen (AMGN) – Big biotech isn’t working, Pete Najarian says, but Big Pharma is.
Circuit City (CC) – Even now, CC is overvalued, Jeff Macke says. “They don’t have an idea.”
Pulte Homes (PHM) – Why not just throw the whole board up there, Tim Seymour says. Third quarter cancellations will only drag the homebuilders even lower.
Lexmark (LXK) – They announced a 2-for-1 split but no one seemed to get the memo, Guy Adami says. The stock is in trouble but he thinks it could start to turn higher.
JetBlue (JBLU) – Owning an airline is a really expensive way to trade jet fuel, Jeff Macke says. He would rather avoid the whole group.
A STOCK THAT POPPED, THEN DROPPED...
Yahoo (YHOO) – It started the year on a tear and turned lower midway through. Pete Najarian thinks new chief Susan Decker is setting it up for a rebound and it will “continue to pop.”
...AND ONE THAT DROPPED, THEN POPPED
Dell (DELL) – Dell plunged and then gained its footing once Michael Dell took over the reigns. But Jeff Macke thinks it’s getting a bit ahead of itself. The better move is to remain long Hewlett-Packard (HPQ) but “take the trade” on Dell, he says.
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Trader disclosure: On the date of taping, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Seymour Owns (AAPL), (TWX), (INTC), Is Short (MS); Macke Owns (EMC), (INTC), (ATVI), (DIS); NBC Universal is the Parent Company of CNBC