Fast Money

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Fast Money

The Word on the Shakeup at Yahoo!, Steel, Coal and more


CEO Resigns, Yahoo!
The headline:Yahoo CEO Terry Semel – Under Fire for Google Thumping – Resigns; Yahoo shares Surge After Hours as CEO Semel is Replaced by Co-Founder Jerry Yang

“We have a pulse!” says Jeff Macke. Get long on the news of the resignation, Guy Adami says, but take profits quickly. If the stock hits $32, he would get out. Pete Najarian and Eric Bolling also like Yahoo (YHOO) here, but it’s still “a long distant second from Google (GOOG),” Pete says.

Barreling Toward $70
The headline:Oil Nears $70 For 1st Time Since September As Nigerian Strike Looms

Oil prices going higher means the whole industry goes higher, Eric says, and that lifts the S&P. He thinks every investor should have some money in oil. He recommends two ETFs: Oil Services HOLDRS (OIH) and the Energy Select Sector SPDR (XLE).

China’s New Record
The headline: China Market Jumps 3.1% To New Record High, Fully Recovering From Sell-Off

With China on fire, Pete recommends (BIDU) which he believes still has plenty of upside left. Yahoo is nothing compared to Baidu’s future potential he says. He and Guy like the iShares FTSE/Xinhua China 25 Index (FXI).

Trade Update: Steel Stocks Too Hot?
The headline: Are Nucor, Steel Stocks Still Too Rich?

Word On The Street

Back on June 8, Guy said that although he loved steel stocks, it might be time to take profits in Nucor. After Nucor (NUE) guided lower and receieved a couple analyst downgrades, Guy says he might like it again at $60 per share. U.S. Steel (X) is a little rich on a valuation basis as well, he says.

Coal Overvalued?
The headline: Have Peabody Energy (BTU), Coal Stocks Become Too Rich?

Guy likes these stocks a little lower than where they are, but they’re long-term buys, he says. Eric’s a believer too: coal is the only natural resource the U.S. has domestically, he says. “You gotta be long.” And Peabody is a great stock on its own, Pete says. “Buy it on the dip.”

A Blockbuster Format
The headline: Blockbuster Says It Will Rent High-Def DVDs Exclusively In Blu-Ray Format

It looks like Sony’s Blu-Ray format will win the DVD format war, Jeff says. This news from Blockbuster (BBI) could be a much-needed uptick for Sony (SNE) stock.

Genesco Finishes First
The headline:Genesco (GCO) Soars After Finish Line Agrees To Buy It For $1.53b

Look for Foot Locker (FL) to become a possible takeover candidate, Jeff says. And Pete likes Under Armour (UA) as the “explosive company that still has growth” in the space.

Lifting Their Noses in Paris
The headline: Boeing, Airbus In focus As Market-Moving Paris Air Show Kicks Off

Word On The Street, Pt. 2

CNBC’s Phil LeBeau, monitoring the Paris Air Show, says he expects Boeing (BA) to continue to see upside domestically and internationally, and Airbus could start trending higher with it. With Airbus, much depends on the success of the a350, but we won’t know exactly how successful it is for a couple of years, he says.

When the U.S. carriers, with their new cleaned up balance sheets, start placing orders Boeing is going to win, Guy says. The announcement that U.S. Airways LCC put in a $10 billion order with Airbus is relatively small, and it is larger airlines like American (AMR) and United (UAUA) which need to put in the huge orders that could really swing either stock. Eric thinks as Boeing continues to see upside, Airbus will follow.

Word on the Street

Trader disclosure: On June 18, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders:Najarian Owns (CHU), (MS); Bolling Is Short (FXI) and owns (FXI) Puts
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