Fast Money: Halftime Report
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Halftime: Navigate Treacherous Retail with 6 Pair Trades
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Retailers landed back on the “Fast Money” traders’ radar Thursday after Deutsche Bank initiated coverage on Wal-Mart with a sell rating and a $48 price target. Its main concern was that Wal-Mart was losing market share and was not embracing smaller stores.
The firm also suggested several pair trades:
- Buy Costco/Sell Wal-Mart
- Buy Kohl's/Sell JCPenney
- Buy Nordstrom/Sell Saks
- Buy Kroger/Sell Safeway
- Buy Dollar Tree/Sell Fred’s
- Buy Whole Foods/Sell The Fresh Market
So, what’s the trade?
OptionMonster’s Jon Najarian agrees with the buy Costco [COST
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]/sell Wal-Mart [WMT
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] call by Deutsche Bank. He said Costco has more “high end” offerings while still appealing to people who want to consolidate their trips to the store.
Trader Steve Grasso said while he agrees “generically across the board” with the firm’s pair trades, he wants to limit his exposure to retailers from the eurozone.
“I think we could be talking about depression not recession (in Europe) and we could be talking about double dip here, so you want to be very careful when guys are paying in dollars and getting paid in euros.”
If you want to get into retailers, Guy Adami suggests Tiffany [TIF
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], which he thinks is going to get bought at some point. He also likes Abercrombie & Fitch [ANF
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] for similar reasons and thinks the stock is attractive right here.
Zach Karabell said he's not a fan of Wal-Mart, calling the stock as range-bound as any equity he could think of in the past five years.
“I don’t know why you would be in Wal-Mart as a stock ever,” he added. “I’m much more interested in Target [TGT
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]. I think it is a much more dynamic environment in general.”
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CAN RIM TURN THINGS AROUND?
Research in Motion [RIMM
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] is expected to release its earnings after the bell. The BlackBerry maker’s stock has lost about half its value this year, but will the numbers be a catalyst for a turn around?
Jeffries analyst Peter Misek joined the “Fast Money” traders and weighed in. Watch the video now!
*To watch the segments, go about 3 minutes in.
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UBS ROGUE TRADER
UBS [UBS
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] dropped a bombshell on the market today. The Swiss firm said it may not be profitable in Q3 thanks to a $2 billion loss from unauthorized trading.
David Greenberg, Founder of Greenberg Capital and President of Sterling Commodities called it a “mismanagement shocker.” Watch the video now!
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Trader disclosure: On Sep 15, 2011, 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); Adami Owns (C); Adami Owns (GS); Adami Owns (INTC); Adami Owns (MSFT); Adami Owns (NUE); Adami Owns (BTU); Karabell is long Apple (AAPL); Karabell is long Bank of America (BAC); Karabell is long Google (GOOG); Karabell is long JPMorgan (JPM); Najarian owns call spreads on Apple (AAPL); Najarian owns call spreads on ANF; Najarian owns call spreads on XOM; Najarian owns call spreads on EBAY; Najarian is long CIGX; Steve Grasso owns Boeing (BA); Steve Grasso owns Bank of America (BAC); Steve Grasso owns Citigroup (C); Steve Grasso owns Dominion Resources (D) Steve Grasso owns JPMorgan (JPM); Steve Grasso owns Global X Lithium (LIT); Steve Grasso owns Louisiana PAC Corp (LPX); Steve Grasso owns Marriott International (MAR); Steve Grasso owns Western Asset Managed High Income Fund (MHY); Steve Grasso owns Nasdaq OMX Group Inccom (NDAQ); Steve Grasso owns Pfizer (PFE); Steve Grasso owns Presstek Inc (PRST); Steve Grasso owns SPDR S&P Homebuilders ETF (XHB); Steve Grasso owns Materials Select Sector SPDR ETF (XLB); Steve Grasso owns Industrial Select Sector SPDR ETF (XLI)
For Zach Karabell
Rivertwice is long GCOM
Rivertwice is long Target (TGT)
Rivertwice is short Financial Select Sector SPDR ETF (XLF)
Rivertwice is short SPDR Gold Trust (GLD)
Rivertwice is short Lockheed Martin (LMT)
Rivertwice is short JC Penney (JCP)
For Steve Grasso
Stuart Frankel & Co and it’s partners own (CSCO)
Stuart Frankel & Co and it’s partners own (CUBA)
Stuart Frankel & Co and it’s partners own (GERN)
Stuart Frankel & Co and it’s partners own (HPQ)
Stuart Frankel & Co and it’s partners own (HSPO)
Stuart Frankel & Co and it’s partners own (JPM)
Stuart Frankel & Co and it’s partners own (MET)
Stuart Frankel & Co and it’s partners own MSFT)
Stuart Frankel & Co and it’s partners own (MU)
Stuart Frankel & Co and it’s partners own (NYX)
Stuart Frankel & Co and it’s partners own (PFE)
Stuart Frankel & Co and it’s partners own (PRST)
Stuart Frankel & Co and it’s partners own (RHT)
Stuart Frankel & Co and it’s partners own (SDS)
Stuart Frankel & Co and it’s partners own UAL
Stuart Frankel & Co and it’s partners own (XRX)
Stuart Frankel & Co and it’s partners are SHORTS (QQQQ)
Steve Grasso owns Advanced Micro Devices AMD
Steve Grasso owns Aastrom Biosciences Inc (ASTM)
For Brian Kelly
Funds managed by Shelter Harbor Capital are Long: Euro
Funds managed by Shelter Harbor Capital are Short: SLV (via options)
Funds managed by Shelter Harbor Capital are Short: SPY (via put spread)
For Peter Misek
Jefferies & Company, Inc makes a market in the securities or ADRs of Research in Motion, Inc.
For David Greenberg
**No disclosures
For Charles Grom
Costco Wholesale Corporation (COST) is a client of Deutsche Bank
Target Corporation (TGT) is a client of Deutsche Bank.
Deutsche Bank owns 1% or more of any class of common equity securities of Fresh Market, Inc (TFM)
Deutsche Bank owns 1% or more of any class of common equity securities of JC Penney Company Inc (JCP). JC Penney Company Inc (JCP) is a client of Deutsche Bank
Deutsche Bank owns 1% or more of any class of common equity securities of Saks Inc (SKS)
Deutsche Bank owns 1% or more of any class of common equity securities of Safeway Inc (SWY). Safeway Inc (SWY) is a client of Deutsche Bank
Wal-Mart Stores, Inc (WMT) is a client of Deutsche Bank
Deutsche Bank owns 1% or more of any class of common equity securities of Supervalu Inc (SVU). Supervalu Inc (SVU) is a client of Deutsche Bank
The Kroger Co (KR) is a client of Deutsche Bank
CNBC.com with wires.
Data is a real-time snapshot *Data is delayed at least 15 minutes
