Goldman Sachs says they're surprised that economic weakness hasn’t had a greater impact on earnings and guidance. With Only Cisco and retailers remaining, how should you trade what’s left of this earnings season?
Earnings were bad, says Guy Adami, but there’s no reason for stocks not to go higher. Equities were obliterated to such levels they could be attractive.
I’m very curious to see the retail earnings, says Karen Finerman. I really want to hear about outlook.
If you’re a betting guy (or gal), adds Jeff Macke, then I think you should be buying.
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Trader disclosure: On May 1, 2008, 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 (MSFT), (DIS), (INTC); Adami Owns (AGU), (NUE), (BTU), (C), (GS), (INTC), (MSFT); Najarian Owns (AAPL), (TSO), (XLF), (YHOO); Najarian Owns (C) Calls, (CHK) Calls, (MSFT) Calls, (WLT) Calls, (POT) Calls; Finerman Owns (CHK), (GS), (HD); Finerman's Firm Owns (MSFT), (NYX), (SUN), (TSO), (TYC), (TEL), (VLO), (CMVT); Finerman's Firm Is Short (IYR), (IJR), (MDY), (IWM), (SPY); Finerman's Firm Owns S&P 500 Puts; Finerman's Firm Owns (C) And (C) Leaps, Finerman Owns (C); Finerman's Firm Is Short Pounds