With the Federal Reserve decision and the first reading of GDP coming Wednesday, our view of the financial world could change in one day. What’s the trade before the economy's D-Day.
Pete Najarian believes the Fed will cut interest rates by 25 basis points. He recommends buying technology names that have been working as well as financials that have been doing a good job with their asset management.
Also in breaking news, Dylan Ratigan reveals that activist investor Carl Icahn has called on the board of BEA Systems Inc. to conduct an auction of the company, then let shareholders vote to accept or reject the results. In a letter to the board, he said BEA should not let a $17-per-share bid for the company from Oracle Corp disappear. Oracle has said its offer will expire on Sunday and that it will "move on" and look at other possible acquisitions.
Karen Finerman, who also owns BEAS thinks Icahn is trying to stir the pot.
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Trader disclosure: On Oct 26, 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 (ATVI), (INTC), (YHOO), (EMC); Najarian Owns (GOOG), (BHI), (C), (DISH), (HAL), (YHOO), Najarian Owns (SNDK) Calls; Najarian Owns (MSFT) Puts; Finerman Owns (C); Finerman's Firm And Finerman Own (GS), (KFT), (MSFT), Finerman's Firm Is Short (MER) And Owns (MER) Puts; Finerman's Firm Owns (MO), (NVT), (TWX), (YHOO), (BIIB); Finerman's Firm Owns S&P 500 Puts; Finerman's Firm Owns Russell 2000 Puts; Finerman's Firm Owns (BEAS) And (BEAS) Options