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Best Buy Booming

Thursday, 25 Mar 2010 | 5:33 PM ET

Investors are cheering for the consumer. Best Buy results suggest they may not be so down and out, afterall.

With the electornics seller reporting stronger than expected sales of TV’s, computers and other gadgets, Wall Street watchers, including Timothy Ghriskey, co-founder of investment firm Solaris Group, are hopeful that, “the consumer is coming out of hiding."

And Best Buy CEO Brian Dunn offered some bullish commentary to fuel that fire.

Best Buy Booming
Best Buy is up 4 percent after earnings, with the Fast Money crew.



"Trends tell me staying connected (with technology) has become non-negotiable for millions of people and that some of the things we offer no longer fall under the category of discretionary purchases,” Dunn said.

"It is almost as if electronics are somewhere between discretionary and non-discretionary...They have almost become a staple," added Ghriskey.

What’s the trade?

On the news I’m bullish AUO, says Tim Seymour. I think it’s a fantastic play.

I’d look at IMAX, counsels Guy Adami. I think it’s a play on the 3D sea change.






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Trader disclosure: On March 25th, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU), (C); Kaminsky Owns (LULU) Puts; Terranova Is Short (GS), (CAL), (UAUA); Terranova Owns (QCOM); Terranova Owns (GLD) April Puts; Terranova Is Short May Crude Oil Futures; Seymour Owns (AAPL), (BAC), (MGM); Gordon Is Short Australian Dollar vs. Yen and U.S. Dollar; Tomasulo Owns (AMZN), (GS), (MSFT), (QCOM), (FCX), (XOM), (CAT), (MCD), (IBM); Tomasulo Is Long Gold Futures; Edwards Owns (UUP)

For Tim Seymour
Seygem Asset Management Owns (MTL)

For Joe Terranova
Terranova Works For (VRTS)
Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd.
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (GOK)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (XLP)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLV)
Virtus Investment Partners Owns More Than 1% Of (XLI)

For Patty Edwards
Edwards Owns (AAPL) For Clients
Edwards Owns (AMZN) For Clients
Edwards Owns (AKAM) For Clients
Edwards Owns (BAC) For Clients
Edwards Owns (DELL) For Clients
Edwards Owns (GOOG) For Clients
Edwards Owns (GS) For Clients
Edwards Owns (JPM) For Clients
Edwards Owns (MCD) For Clients
Edwards Owns (MS) For Clients
Edwards Owns (RIMM) For Clients
Edwards Owns (WFC) For Clients
Edwards Owns (WMT) For Clients
Edwards Owns (SPY) For Clients
Edwards Owns (QQQQ) For Clients
Edwards Owns (GLD) For Clients
Edwards Owns (JCG) For Clients
Edwards Owns (INTC) For Clients
Edwards Owns (MSFT) For Clients
Edwards Owns (WFC) For Clients
Edwards Owns (SPY) For Clients
Edwards Owns (QQQQ) For Clients
Edwards Owns (GLD) For Clients

For Mike Khouw
Cantor Fitzgerald & Co. Is A Market Maker In (AMAT)

For Anthony Scaramucci
Skybridge Owns (APL)


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