Day Off, Deals On?:
The headline: Will The Long Holiday Weekend Make For A Long List Of Deals?
The word: Pete Najarian’s number one play is Biogen (BIIB). Guy Adami says it would be an easy deal for Pfizer (PFE) and it makes sense.
Pete also thinks Micron (MU) could get taken out. He sees a lot of trading of the June calls and that signals a possible deal, he says. “If you’re short MU, you’re dead,” Jeff Macke adds.
Jon Najarian thinks Cleveland-Cliffs (CLF) is a target after unusual trading in the options and stock itself. CLF traded at 5x normal trading volume today and about 18x in the options. There was also unusual activity in Ryerson (RYI), Jon says. “This stock could go away in one bite.”
A Tale Of Two ‘Tails:
The headline:Gymboree (GYMB) Masters Art Of Earnings Expectations, While GameStop (GME) Has A Lot To Learn
The word: It’s all about under promising and over delivering, Jeff says. He thinks Coldwater Creek (CWTR) is a recipe for a good trade as the excitement level is picking up ahead of its earnings, but the expectation is still low. You have to trade specialty retail when it’s weak, he says.