ANOTHER BILLIONAIRE BUY-IN
The headline: Bahama-Based Billionaire Joseph Lewis Takes 7% Stake In Bear Stearns.
Dylan Ratigan explains that Lewis is a British-born billionaire who made his fortune as a currency trader and during the 1990s, Lewis bought 30% of Christie’s in an attempt to take the auction house private Now, he's purchased a 7% stake in Bear Stearns to become company’s largest shareholder.
Guy Adami tells the panel he likes Goldman Sachs and Morgan Stanley for their trading revenues.
Pete Najarian recommends owning GS until earnings, then he says “Get outl”
Jeff Macke doesn’t agree. He thinks GS stock has already rallied.
Karen Finerman believes that GS will “get creamed” this quarter. She thinks their asset management has taken an enormous blow.
She further explains that if you want to trade with the “Wall Street Whales” investors should be able to read a a 13-D file which can be found on www.sec.gov and adds she looks for 3 important items.
- pg 1 and 2 – how much they own
- item 4 – states their intention
- last page – summary of last 60 days
SHOOTING FROM THE CHIP
The headline: Intel (INTC) Boosts Sales Outlook In Bid To Overshadow Advanced Micro Devices (AMD) Barcelona Chip Release.
Pete Najarian thinks Intel is a buy. He also likes AMD for global growth.
Guy Adami tells the panel to trade AMD “at your own risk.”
Jeff Macke reveals that he’s long INTC as an investment.
TAKE YOUR POSITION: TEXAS INSTRUMENTS (TXN)
The headline: Texas Instruments To Provide Mid-Quarter Update Tuesday After The Bell.
Guy Adami anticipates TXN will narrow guidance Tuesday. On a related note, at these levels he likes this stock.
Pete Najarian tells the panel TXN makes him nervous.
TAKE YOUR POSITION: MCDONALD'S (MCD)
The headline: McDonald's To Release August Same-Store Sales Tuesday Before The Bell; RBC, Citing Strong Coffee Sales, Says McDonald's May Beat Estimates.
Karen Finerman explains to the panel that in fast food she prefers YUM! Brands (YUM) to McDonald’s mostly because she enjoys eating at Taco Bell.
Jeff Macke thinks McDonald’s is one of the best run companies on the planet. He disagrees with Finerman and says he thinks MCD is better stock than YUM!
DEFENSE ON OFFENSE BEFORE CONFERENCE
The headline: Lockheed Martin (LMT), Northrop Grumman (NOC) Jumping Ahead Of Morgan Stanley Conference Tomorrow.
Dylan Ratigan reminds the panel that General Petraeus testified before Congress Monday.
Guy Adami recommends buying both Lockheed Martin and Boeing (BA) in the low $90’s. He also likes L-3 Communications (LLL).
Pete Najarian tells the panel to look at Honeywell (HON) as a way to play defense technology.
HEALTH BULL BREAKING OUT AT BEAR
The headline: Bristol-Myers (BMY) Backs 2007, 2008 Outlook At Bear Stearns Healthcare Conference;
Pete Najarian explains that the Bear Stearns Healthcare Conference is among most important this fall. Pete also likes Merck (MRK) and Lilly (LLY).
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Trader disclosure: On Sept. 10, 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 (ATVI), (DIS), (INTC), (HAS); (EMC), Najarian Owns (VMW); Najarian Is Short (GS); Finerman's Firm Owns (COP); Finerman's Firm Owns S&P 500 Futures; Finerman's Firm Owns Russell 2000 Futures