Existing home sales figures will be released Wednesday while new home sales come out Thursday. What's the housing trade as the market braces for dismal data?
Guy Adami recommends looking Acuity Brands (AYI) as a lighting fixture play. It’s down 45% from it’s 52-week high, he says. Adami also recommends Thomas and Betts (TNB) as another company worth watching.
Karen Finerman thinks some homebuilders may have bankruptcy risk. She explains many not only have debt building up but they are violating covenants. “At least one homebuilder will go under before (the slime) is cleaned up,” she says.
