Heavy options action in Starbucks spacer at the start of the month foreshadowed the ultimate earnings miss and decaffeinated forecast out of the coffee chain after the bell yesterday, according to Pete Najarian, FM Trader and co-founder of OptionMonster.com. If you look at the chart, Starbucks shares began to go on a nice run at the end of October amid an interview in the Wall Street Journal where CEO and Founder Howard Schultz told the paper that he believed the company's sales may have hit bottom in September.
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Fast Money's Jeff Macke strongly rejects Barron's weekend call to "Sell Buffett" because it could be "dead money for at least a year." The stock suffered its biggest drop today in three years on the heels of that article. Macke says don't listen to Barron's.
After six months as a weekly program, CNBC's "Fast Money" will join the network's primetime lineup beginning Monday, Jan. 8th, airing Monday-Friday at 8 PM ET and broadcasting from the NASDAQ Stock Market's street level MarketSite studio in New York's Times Square. "Fast Money," anchored by CNBC's Dylan Ratigan, is a rapid-paced, highly charged hour where four of Wall Street's best traders debate and discuss the hot trades of the day. "Fast Money" is the only financial news program that converts news of the day into daily trading opportunities. Each program begins with Ratigan asking, "Where's the money? What's the trade? What's your move?"
As we told you here on this blog last week, Pershing Square Capital Management upped its stake in Target beyond +5%. Per the SEC regulatory filing made Monday, Bill Ackman increased his stake in TGT to 9.6% of shares outstanding.