Following are the “Fast & Furious” trades - hot ways to play Thursday's market moving events.
NASDAQ EARNINGS: The Nasdaq OMX reports earnings Thursday; the company is expected to post a profit of 47 cents, a 2% drop year over year.
I expect a little pullback, but ultimately I think the stock moves higher, muses Pete Najarian.
MEDIA MONEY:CBS is set to report earnings Thursday; the media company is expected to post a profit of 7 cents, an 82% decline year over year.
It's hard for me to get excited about media, says Karen Finerman, but lately fundamentals haven't mean too much to this market.
GOOGLE SHAREHOLDER MEETING:Google holds its annual shareholder meeting Thursday, what is the play ahead of the meeting?
I don't think the meeting moves the stock, says Citigroup analyst Mark Mahaney, I have a buy on this stock but I'd be more aggressive with Google at $350.
FAST PROFITS?Wendy's reports earnings Thursday; the company is expected to post a profit of only 3 cents.
It's dead money, bristles Jeff Macke.
NVIDIA EARNINGS:Nvidia reports earnings Thursday; the company is expected to post a loss of 10 cents.
The stock is up 70% for the quarter, explains Pete Najarian. I'd take profits.
FATE OF RATES: The European Central Bank is expected to announce it’s decision on interest rates. Investors are expecting the bank to lower the main rate by a quarter-percentage point to 1%.
I expect the euro will weaken, speculates Tim Seymour.
BUY GOLDMAN ON STRESS? On the Fast Money Halftime Report, Jared Levy of Peak6 suggested the following Goldman play, “Short term sell them, long term I'm sticking with Goldman Sachs with the July 130, 135 call spread on the pullback.”
I would be hesitant to chase it, says Karen Finerman, but overall that's not a bad trade.
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Trader disclosure: On May 6th, 2009, 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 (WFC), (GS), (SDS), (AGU), (PCLN), (GE); Seymour Owns (AAPL), (BAC), (F), (FXI), (RIG), (TM), (TSO); Finerman's Firm Owns (BAC) Preferred Shares And Is Short (BAC) Stock; Finerman's Firm Owns (CSCO); Finerman's Firm Owns (MSFT) And (MSFT) Put Spreads; Finerman's Firm Owns (PM); Finerman's Firm Owns (PBR); Finerman's Firm And Finerman Own (RIG); Finerman's Firm And Finerman Own (WFC) Preferred Shares; Finerman's Firm Is Short (IJR), (MDY), (SPY), (IWM), (USO); Najarian Owns (BX) Call Spread; Najarian Owns (DFS) Calls; Najarian Owns (EWZ) Call Spread; Najarian Owns (FIG); Najarian Owns (MS) And Is Short (MS) Calls; Najarian Owns (MCD) And Is Short (MCD) Calls; Najarian Owns (NVDA) And Is Short (NVDA) Calls; Najarian Owns (TSO) Call Spread; Najarian Owns (XLI) Put Spread; Najarian Owns (XHB) Call Spread; Najarian Owns (XLF) Call Spread; Najarian Owns (BYD) Calls
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