Hewlett-Packard (HPQ),GameStop (GME) and Dick's Sporting Goods (DKS) are all set to report earnings next week. How should you trade?
Hewlett Packard should benefit not only from printers but worldwide PC demand says Guy Adami. I love this stock but adds expectations are high.
Pete Najarian recommends selling HPQ into strength on Monday and then re-evaluating.
This is one of the few retail areas where I think it’s okay to be long, says Jeff Macke. Get long right here, right now.
GameStop was punished on Tuesday in a downgrade, Pete Najarian adds. Buy the dip.
Dick’s Sporting Goods
Under Armour (UA),Crocks (CROX), Nike (NKE), and Calloway (ELY) are performing very well, says Pete Najarian. Because Dick's carries all those brands, they should “knock the cover off the ball.”
Jeff Macke also recommends Dick’s as a buy.
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Trader disclosure: On Nov. 16, 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 (INTC), (YHOO); Najarian Owns (EMC); jarian Owns (CSCO) Options, (MSFT) Options,(YHOO) Options, (GOOG) Options; Finerman Owns (ASD); Finerman's Firm And Finerman Own (FTWR), (GS); Finerman's Firm Owns (KSS), (WMT), (CROX), (YHOO),(NYX); Finerman's Firm Owns (BEAS) Options, (BIIB) Options, (NVT) Options, (NMX) Options, (MSFT) Options; Finerman's Firm Is Short (LEH), (MTW), (IJR), (IYR), (MDY), (IWM), (SPY); Finerman's Firm Owns Russell 2000 Puts; Finerman's Firm Owns S&P 500 Puts; Finerman's Firm And Finerman Owned (FTWR) On 9/11/07; Finerman's Firm Owned (BIIB) Options On 11/8/07; Finerman's Firm Owns (HD) And (HD) Options, Finerman Owns (HD)