The film industry is thriving despite the economic downturn, with “Up,” the latest film by Walt Disney and Pixar Animation Studios, generating positive buzz ahead of its opening at the Cannes Film Festival in France on May 13 and then here in the US on May 29.
Also Disney’s Jonas Brothers and Hannah Montana are still huge draws. And though theme parks are struggling with the economy, it seems as if the swine flu will have little impact.
What's the trade?
I’m looking for earnings to come down, says Rich Greenfield of Pali Media. I think the stock is going to retrace to its prior lows over the course of the next 6-9 months.
I wouldn't jump in today, muses Pete Najarian. But if it gets toward $21 I say it's a buy.
I'm longDisney, counters Joe Terranova, and I'm not getting out. Longer term I suspect Disney's got a $30 price target on it. However if you're not in already, I'd wait for a pullback.
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Trader disclosure: On May 4th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Seymour Owns (AAPL), (BAC), (EEM), (FXI), (SBUX); Seymour' Firm Owns (PBR), (MBT); Seymour Is Short (X); Najarian Owns (BX) Call Spread; Najarian Owns (CROX) Call Spread; Najarian Owns (CX) Calls; Najarina Owns (FIG; Najarian Owns (INTC) Call Spread; Najarian Owns (MS) & (MS) Calls; Najarian Owns (PALM) & (PALM) Calls; Najarian Owns (VAR) Call Spread; Najarian Owns (XHB) Cal Spread; Najarian Owns (XLB) Call Spread; Finerman's Firm Owns (BAC) Preferred; Finerman's Firm Owns (C) Preferred; Finerman's Firm Owns(MSFT) & (MSFT) Put Spread; Finerman's Firm Owns (AXP), (MA), (PBR), (RIG), (UNH), (TBT); Finermans Firm Is Short (IJR), (MDY), (SPY), (IWM), (USO)
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