BUY OR BAIL: HOMEBUILDERS?
Eric Bolling says commercial REITs such as Public Storage (PSA) haven’t been hurt nearly as much as the homebuilders.
TRADE UPDATE: TOLL BROS.: HOUSING'S HEAVY TOLL:
The headline: Toll Brothers (TOL) Tumbles On Fears Rising Rates Will Hurt Prices, Sales
The word: Guy Adami says he’s out of this stock and with rates going higher investors will avoid homebuilders.
WEAK RETAIL FUELS SELLOFF.
The headline:Macy's (M), J.C. Penney (JCP) Sales Decline in May on Surging Gas Prices, Slumping Housing Market ..Wal-Mart (WMT) May Sales Rise Just 1.1%
The word: Jeff Macke recommends waiting on the retail names until later in the Summer. However, he likes Nordstrom (JWN) as a long term story.
TRADE UPDATE: SAKS' SWEET MUSIC:
The headline:Saks (SKS) Shares Surge On 38% Jump In May Same-Store Sales
The word: Guy Adami says Saks is a tourist destination and that helps Saks tremendously.
NovaStar Financial (NFI) Adds To Gains Following Successful Sale Of Home Loans
Pete Najarian believes NFI is a takeover candidate based on the volume of options traded Thursday.