Auto Earnings Ahead
Ford’s (F) worst days might be behind it, Guy Adami said. He believes the automaker will sell its Land Rover and Jaguar divisions and come to terms with the U.A.W. The stock is worth $9.75, he said. The moves higher in Lear (LEAR) and BorgWarner (BWA), two of Ford’s suppliers, bode well for the company, he said.
Jeff Macke joked that things have been so bad for so long at the American automakers that “merely waking up” at General Motors (GM) or Ford has been good for the stocks.
However, they do seem to be making improvements, Jeff said, possibly big enough even to adversely affect foreign automakers like Honda (HMC) and Toyota (TM).
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Trader disclosure: On Nov. 6, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Jeff Macke owns (YHOO), (INTC), (ATVI); Pete Najarian owns (CY), (BHP), (CSCO), is short (MBI), owns options in (BHI), (BIDU), (C), (FMCN), (GOOG), (HAL), (YHOO); Finerman’s firm owns Russell 2000 Puts, S&P 500 Puts, (CROX) options, (MSFT) options, (LEH) puts, is short (MER) and owns (MER) puts, (TSO), (TWX), (YHOO), is short (MDY), (IJR); Finerman’s firm and Finerman own (GS)