HOME DEPOT NOW JUST FOR HOMES:
The headline:Home Depot (HD) Sells Construction Supply Unit To 3 Private Equity Firms For $10b
Guy Adami thinks HD could go to $45. He adds the balance sheet looked great before and it looks even better now. Jeff Macke says he, too is a buyer. Eric Bolling likes HD and Pete Najarian is tepid.
HOUSING RECESSION CONTINUES:
The headline: Builders Break Ground on Fewer Homes in May, According to Government Data Today. Higher Rates Keeping Housing Market in the Dumps
Eric Bolling says sell the $32-$38 short strangle on SPDR S&P Homebuilders (XHB) because he doesn’t think it's going to move.
TRADE UPDATE: FINANCIALS MAKE BANK TODAY:
The headline: Bank of America (BAC), Financials Lead Market Higher Tuesday
Pete Najarian still loves the financials but thinks it might be a little late to buy into the trade. Guy Adami likes BAC.
YOU DIDN’T YAHOO?
The headline: After Hours Monday Yahoo! (YHOO) Stock Moved 2% After Chief Executive Terry Semel Resigned. Tuesday The Gains Reversed.
Jeff Macke says The Street thinks Semel leaving means a deal of any magnitude is less likely to happen anytime soon. Eric Bolling says Yahoo is still a good stock. Pete Najarian says Tuesday morning institutional investors were selling calls and buying puts, which suggests to him that investors do not like Yahoo! He adds Baidu (BIDU) made a 52-week high
ROLLING BACK RATES?
The headline:Wal-Mart (WMT) Set to Make Financial Services Announcement Wednesday Says Published Reports
Jeff Macke says this is not the catalyst that will move WMT stock higher.
The headline:Bristol-Myers (BMY) Wins Suit to Block Generic Plavix, Clearing Way for Takeover. Bristol-Myers Squibb Markets Blood-Thinner Plavix Along With Sanofi-Aventis (SNY)
Pete Najarian says the $6 billion a year drug is still theirs. Also a new drug application for a cancer therapy and an oncology pipeline are adding to takeover speculation. Guy Adami thinks BMY is too expensive for a takeover.
THE OIL-AIRLINES TRADE:
The headline: Fuel Prices Fall, Airline Stocks Take Off and Vice Versa
Eric Bolling says there is a direct correlation between the airline index and gasoline; directly opposite, that is.
EXPEDIA'S MONSTER BUYBACK:
The headline: Internet Travel Agency Expedia (EXPE) Buys Back 42% of Its Common Stock
Pete Najarian says The Street has never seen a buyback this large before. He adds Travelzoo (TZOO) and Priceline (PCLN) might be in play.
The headline: Best Buy (BBY) Profit Drops 18% as Flat-Panel TV, Notebook Prices Slide
Jeff Macke says BBY is selling lower margin goods. He adds “it’s a next year story” in terms of profits. Pete Najarian thinks the dip is a buying opportunity.
CORN DROPS MOST IN 2 MONTHS:
The headline: Why Do Monsanto (MON), Agrium (AGU) Continue to Surge as Corn Prices Fall?
Eric Bolling says MON and AGU have both guided higher and he believes these stocks are off to the races.
The headline: Viewer Sees Gold License Plate Omen; Bolling Dreams of Google
Kevin writes, "Eric: I was driving home yesterday and saw a license plate that read: "GLD O855". I immediately remembered your “Google” dream and thought there must be something to this."
Eric Bolling says don’t go with dreams; just do your homework.
Trader disclosure: On June 19 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 (BMY); Bolling Owns (ICE), (NMX), Gold: GE Is The Parent Company Of CNBC
CNBC Is A Service Of NBC Universal And Dow Jones
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