SECOND HALF SURGE?
The headline: Dow Jumps 127 Points On First Day of Third Quarter...Energy, Steel, Material Stocks Lead Gain on Sign of Strong Economic Growth.
Eric Bolling feels the important thing Monday was the dollar weakening which pushed commodity prices higher.
Jeff Macke says when the dollar breaks he recommends Hewlett-Packard (HPQ).
Pete Najarian adds that steel, which had been lagging, started to move up.
“The 10 year traded below 5%,” that was the key to the day says Guy Adami.
BRITISH POUND HITS 26-YEAR HIGH:
The headline:The Trade As The British Pound Hits 26-Year High Against The Dollar
Eric Bolling says play the CurrencyShares Euro Trust (FXE).
Jeff Macke recommends owning multi-nationals which benefit from a weaker dollar.
The headline:Disney (DIS) Shares Rise As "Ratatouille" Earns No. 1 Box Office Spot With $47.2M
Jeff Macke says get long DIS.
Guy Adami thinks investors should own DIS until CEO Bob Iger retires.
The headline: Is It Time To Start Shorting Airline Stocks?
Jeff Macke explains that in the first 15 days of June...
- The number of flights canceled was up a whopping 91% compared with the same period last year
- The number of flights that were excessively late, more than 45 minutes, jumped 61%
Jeff recommends selling the regional airlines.
Pete Najairan and Eric Bolling agree. They say with oil is trading higher don’t own airlines.
ANOTHER HEDGE FUND IPO:
The headline: Och-Ziff Capital Management Files For $2B IPO; Och-Ziff Would Be The Largest Public U.S. Hedge Fund Manager
Guy Adami says avoid private equity stocks such as Blackstone (BX), Fortress (FIG) and Och-Ziff when it IPO’s.
TO YOUR CREDIT:
The headline: A Viewer Asks Whether He Should Sell Morgan Stanley Spin-Off Discover (DFS)
Mark from North Carolina writes, “Should I sell the spin-off DFS right away or hold on since Mastercard (MA) is doing so well?
Guy Adami says the trade is sell DFS and buy MA.
Pete Najarian says buy Morgan Stanley (MS) and sell DFS.
TRADE UPDATE: ICE ICE BABY:
The headline: Reddy Ice (FRZ) To Be Bought By GSO Capital For $1.1B
Eric Bolling says it’s time to sell this stock.
The headline: Options Activity in Juniper Networks (JNPR) Surging
Pete Najarian says Juniper is a buy because they supply hardware to 8 of the top 10 mobile carriers. He adds down the line JNPR could be a takeover target.
TRADE UPDATE: PRIVATE MANOR:
The headline: Carlyle Group To Buy Manor Care (HCR) For $6.3B
Eric Bolling says it’s time to get out if you own HCR.
Jeff Macke adds sell Dow Jones (DJ) – it’s the same kind of scenario.
RAIDERS OF THE IPHONE:
The headline: Marvell (MRVL), Infineon (IFX) Biggest Winners From iPhone.
CNBC Media reporter Julia Boorstin joins the guys for the conversation.
She says the biggest winner is Samsung. For every iPhone that’s sold Samsung gets revenue of over $50 per phone.
More iPhone Winners
Company Money Earned Per Phone
Infineon (IFX) $15 per phone
Marvell Tech. (MRVL) $6 per phone
Texas Instr. (TXN) $4 per phone
National Semi (NSM) $1.50 per phone
Eric Bolling and Jeff Macke say all the names above are a buy.
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Trader disclosure: On July 2nd 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders
Macke Owns (DIS), Najarian Owns (CBH), (IMMR), (ZQK), (NOK); Bolling Owns (DIS), (T), Natural Gas, Corn; Vivendi Owns 20% Of NBC Universal, The Parent Company Of CNBC; CNBC Is A Service Of NBC Universal And Dow Jones