99 CENTS STORES
With retailers searching high and low for bargains it makes sense that discounters are among the best performing stocks in the sector. And one of the biggest winners in the space has been 99 Cents Stores.
Chief Executive Eric Schiffer tells Fast Money that customer traffic has been strong, as consumers are looking to save on household items.
But will the company be able to hold onto its newly acquired shoppers once the economy improves?
Find out now. Watch our interview with CEO Eric Schiffer.
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'DASH FOR TRASH' LIFTS BEATEN-UP FINANCIALS
Shares of battered financial companies including insurer American International Group and lender CIT Group continued to soar on Thursday, as investors apparently rushed to buy shares to cover short positions in the companies.
However there could be a fundamental story at play too, reminds host Melissa Lee. AIG reports quarterly earnings on Friday and a new CEO takes up the company's reins on Monday.
What’s the trade?
The only upside I can see in AIG is the possibility that the value of some toxic assets that have been written down so aggressively they will begin to rise, muses Joe Terranova. But that's it.
If you’re looking for a trade look at Hartford , counsels Guy Adami. I think it should have room on the upside.
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OFF THE RECORD WITH CHARLIE GASPARINO
If anyone has his ear to the ground it's CNBC's Charlie Gasparino. And lately he's been hearing rumblings about Morgan Stanley CEO John Mack.
According to Gasparino, expect an announcement on Mack's future next quarter. And if Mack does get handed his walking papers, Gasparino is hearing the most likely replacement is James Gorman Co-President of Morgan's brokerage unit.
We'll keep you posted.
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Trader disclosure: On Aug 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; Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Najarian Owns (AA) Call Spread: Najarian Owns (BUCY) And Is Short (BUCY) Calls; Najarian Owns (CSCO) And Is Short (CSCO) Calls; Najarian Owns (HIG) Calls; Najarian Owns (INTC) And Is Short (INTC) Calls; Najarian Owns (JPM) And Is Short (JPM) Calls; Najarian Owns (MS) And Is Short (MS) Calls; Najarian Owns (MSFT) And Is Short (MSFT) Calls; Najarian Owns (YHOO) Call Spread; Terranova Owns (MSFT), (RIMM), (MCD), (AMZN); Terranova Is Short (F), (WYNN); Seygem Asset Management Is Short (PBR); Seymour Owns (AAPL), (AA), (BAC), (C), (TM)
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For Joe Terranova
Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO
Virtus Diversifier PHOLIO Owns (IGE)
Virtus Diversifier PHOLIO Owns (DBC)
Virtus Diversifier PHOLIO Owns (DBV)
Terranova Works For (VRTS)
Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd.
Virtus Investment Partners Owns More Than 1% Of (ABD)
Virtus Investment Partners Owns More Than 1% Of (CAL)
Virtus Investment Partners Owns More Than 1% Of (DLR)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (DBC)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (SKT)
Virtus Investment Partners Owns More Than 1% Of (TNB)
Virtus Investment Partners Owns More Than 1% Of (UA)
Virtus Investment Partners Owns More Than 1% Of (CLB)
For Jared Levy
Peak6 Investments Owns And Has An Options Position In (SLV)
Peak6 Investments Owns And Has An Options Position In (GLD)
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