Stay Far Away from This Stock: Brian Kelly
Following are movers you might have missed.
Find out what’s going up, what’s going down and whether our traders would double down, fade or run in the other direction!
The catalyst:Men's Wearhouse reported quarterly results below analysts' estimates and forecast a weak second-quarter profit due to a dip in uniform sales at its UK operations.
The trade: I think the decline is overdone, says Josh Brown, I’d play it for a pop.
The catalyst: Although there’s no clear catalyst, perhaps the stock is sliding in sympathy with the spot price of gold.
The trade: If you want to trade gold, go with the commodity, says Stephen Weiss, not the miner.
The catalyst: Best Buy founder and chairman Richard Schulze resigned from the company's board on Thursday and put his 20.1 percent ownership stake in play.
The trade: I would stay far away from this stock, says Brian Kelly.
The catalyst: New signs suggest Beijing is fast tracking infrastructure projects to help buoy China’s slowing economy.
The catalyst: It had been so oversold, it was due for a bounce, says Zach Karabell.
Posted by CNBC's Lee Brodie
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Trader disclosure: On June 7, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Stephen Weiss is long MSFT; Stephen Weiss is long JOYG; Stephen Weiss is long QCOM; Stephen Weiss is long AIG; Stephen Weiss is long CMI; Stephen Weiss is long JCP; Brian Kelly is long USG CALLS; Josh Brown is long LULU