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Fast Money

The Word On Blockbuster's Plunge, Morgan Stanley Earnings & More...


With all the action on the floor today, what was the word on … the surge in Archer Daniels … talk of a Palm buy-out offer ... and Apple TV. The guys reveal what traders are saying to each other as they buy or sell their way to fast money.

The news: Blockbuster (BBI) shares plunge after its CEO agrees to leave by year-end.
The word: Jeff Macke says this is a big power play by the BBI Board and the stock reacted badly for three reasons. 1) they replaced something with nothing 2) the CEO will remain for 9 months and 3) who are you going to hire?  He’s a seller.

The news: Archer Daniels Midland (ADM) shares jump 3% on unusually high trading volume
The word: Eric Bolling says 30% of ADM’s revenue comes from ethanol, and ethanol is still in play. It’s a good company.

The news: Wall Street is wondering whether Morgan Stanley's (MS) earnings tomorrow will save brokerage shares
The word: Guy Adami says the stock is up 6.5% since March 5th and they’ve just done a joint venture with a Vietnamese investment bank. MS will beat expectations but it won’t mean anything.  Tim Strazzini adds if he had to buy another Wall Street stock he’d buy MS.

The news: Adobe (ADBE) shares surge after hours on earnings. 
The word: Tim Strazzini says ADBE had great earnings and they continue to deliver. Their margins are fantastic and the software space continues to do well for them.

The news: Palm (PALM) shares surge after a report suggests that a buyout offer may come as soon as Thursday
The word: Jeff Macke says Palm is where the shorts go to die. He's a seller.

The news: Investors are wondering if Apple TV (AAPL) will transform the look of every American living room?
The word: Eric Bolling says the new iTV is absolutely genius and they just began shipping today. He says it spells the death of TiVO.  Tim Strazzini says the product is late, and it’s been expected for a while – although it’s neat and slick.

The news: Halliburton (HAL) shares fall the most in 8 months after the company cut its profit forecast on decreased drilling activity in North America.
The word: Guy Adami says this explains the company’s move to Dubai where there’s more exploration and growth. Guys says with a 20-handle, own Haliburton.  Tim Strazzini adds that the valuations of Halliburton look good, and he owns the stock.  Eric Bolling agrees that this might be a good opportunity to buy.

Word On The Street

Questions? Comments?

Trader disclosure:
On MAR 20, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders
Bolling Owns (DIS), Gold, Silver, Soybeans is Short Corn. Strazzini Owns (HAL), (YHOO), (MER), (VZ)

Word on the Street