Buy On Benjamin Button?

Tuesday, 23 Dec 2008 | 6:09 PM ET

Looking for some holiday spirit to escape the economic gloom? Never fear, Hollywood is here.

It’s already been quite a December with a number of films generating a great deal of buzz, especially Milkfor Sean Penn’s stellar performance as San Francisco gay activist Harvey Milk fighting for civil rights in the 1970s.

And the big movie onslaught continues on December 25th with a slew of potential blockbusters.

Jennifer Aniston and Owen Wilson headline the spirited canine comedy Marley and Me, while Adam Sandler stars in Bedtime Stories as a man who tells wild tales that start to come true.

Media & Cable Outlook
The Fast Money traders and Rich Greenfield, of Pali Research, discuss their outlooks for the media and cable sector.

Frank Miller's The Spirit also debuts on Christmas Day and is based on the comic books by Will Eisner about a rookie cop who returns from the dead to fight crime. And Tom Cruise brings out World War II drama Valkyrieabout a Nazi officer who tries to kill Hitler, while Brad Pitt and Cate Blanchett turn in strong work for The Curious Case of Benjamin Button which tells of a man who ages backward.

But it's Madagascar 2 that Pali Capital analyst Rich Greenfield says "could move the needle." And he's got a buy on Dreamworks stock.

“I don’t think any movie is going to move the needle,” he tells Fast Money, "except Madagascar 2 “which should be a driver for Dreamworks and I’ve got a buy on the stock.

Otherwise he thinks the bigger issue is ad sales which are expected to be weak in 2009. And as a result he likes companies with big cable exposure because cable networks receive a fee from subscribers.

If you’re looking for trades Greenfield recommends longViacom or Discovery Communications as the big media winners for ’09. And he says you can pair that with a shortCBS .

He also likes Cablevision as the number one name in media for 2009.

For more of our interview with Pali Capital analyst Rich Greenfield please watch the video.

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Trader disclosure: On Dec. 23rd, 2008, 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 (SDS), (DIS), (MSFT), (MCD), (WMT); Najarian Owns (MSFT) Calls; Najarian Owns (UYG) And Is Short (UYG) Calls; Najarian Owns (XHB) Calls; Najarian Owns (HOLX) Calls; Finerman's Firm Owns (MSFT); Finerman's Firm Owns (OIH) Puts; Finerman's Firm Is Short (IYR), (IJR), (IWM), (SPY), (MDY), (BBT), (COF), (USO)

GE Is The Parent Company Of CNBC; NBC Universal Is The Parent Company Of CNBC

Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO; Virtus Diversifier PHOLIO Owns (IGE), (DBC), (DBV)

Terranova Is Chief Alternatives Strategist Of Virtus Investment Partners, Ltd.; Virtus Investment Partners Owns More Than 1% Of (ABD), (ARE), (BIG), (OFC), (DLR), (EXR), (IGE), (MAC), (DBC), (DBV), (SKT), (UA), (CLB); Virtus Investment Partners Owns More Than 1% Of Seagate Tax Refund Rights

Pali Research Is A Market Maker In (CMCSA)
Pali Research Is A Market Maker In (DISCA)

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