Your First Move For Wednesday September 8th
Here’s our Fast Money Final Trade. Our gang gives you tomorrow’s best trades, right now.
Tim Seymour suggests longBarclay’s on the dip.
Guy Adami recommends long Human Genome (scroll down for all the details!)
Karen Finerman prefers long IBB as a bet on further consolidation in biotech.
Anthony Scaramucci thinks Hewlett Packard is a buy. “I think there are better quarters to come,” he explains.
Steve Cortes suggests long UNP. “I like the rails here,” he says.
AFTER HOURS ACTION: ZYMOGENETICS
After the bell, Bristol-Myers Squibb said it would acquire biotechnology company ZymoGenetics. for $885 million, or $9.75 per share a 77% premium over the closing price.
ZymoGenetics is based in Seattle and makes Recothrom, a drug used to reduce bleeding during surgeries. It is also developing a potential hepatitis C drug and experimental treatments for skin cancer and atopic dermatitis.
What’s the trade?
I’d play the space long Human Genome, says Guy Adami. I wouldn’t be surprised to hear Glaxo make overtures for this company.
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Trader disclosure: On September 7th, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour owns (AAPL), (BAC), (INTC), (MON), (POT); Adami owns (AGU), (BTU), (NUE), (C), (GS), (INTC), (MSFT); Adami’s wife works at Merck; Cortes owns (SFD), (BMO), (TD), (FCX), (BHP); Cortes owns the British Pound; Finerman and Finerman’s firm owns (BAC); Finerman owns (GOOG); Finerman’s firm owns (HPQ); Finerman’s firm owns (IBM); Finerman and Finerman’s firm owns (JPM); Finerman owns (ORCL); Finerman owns (POT) options; Finerman's firm is short (IJR); Finerman's firm is short (MDY); Finerman's firm is short (SPY); Finerman's firm is short (IWM); Finerman’s firm owns S&P 500 puts; Finerman’s firm owns Russell 2000 puts
For Anthony Scaramucci
Scaramucci & SkyBridge Capital own (AAPL)
Scaramucci & SkyBridge Capital own (AMZN)
Scaramucci & SkyBridge Capital own (C)
Scaramucci & SkyBridge Capital own S&P 500
Scaramucci & SkyBridge Capital own Gold
For Heather Bellini
ISI does and seeks to do business with (ORCL) and has received non-investment banking compensation in the past 12 months
For Dennis Gartman
Funds managed by Gartman own Gold
For Ed Mills
For Scott Nations