Nokia (NOK) shares surged Thursday after the company told investors it had grabbed more of the mobile handset market away from rival Motorola (MOT). This comes a day after Motorola announced its first drop in sales in almost 4 years. Can it get any worse?
Dylan Ratigan explains that the drop in sales caused barbarian billionaire and Motorola shareholder Carl Icahn to send off a salvo to Motorola Chief Executive Ed Zander which says in part “The performance at our mobile device business in the first quarter was unacceptable."
Dylan says the Fast Money traders could not agree more. He asks, with this well know brand trading near its 2 year low, can pressure from Icahn drive Motorola management to make the right moves?
Pete Najarian thinks this is the bottom for the stock because of Carl Icahn. He explains Icahn is known for taking dead companies and resurrecting them, and he’s trying to do that with Motorola. Pete adds he’s seeing bullish MOT trading on the options market.
Eric Bolling doesn’t see much upside in MOT. He says consumers will wait for the iPhone.
Jeff Macke says sometimes dead is dead. He says without Ichan this is a $12 stock. Jeff says it’s a trade, but if investors hold it long term the trade will end in tears.
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On APR 19, 2007, 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 (SWY) Najarian Owns (AXP), (HNZ), (MON), (MOT), (NDAQ), (XLF), (MPEL) Bolling Owns (NMX), (MPEL), Gold, Silver, Natural Gas Corn; Bolling Is Short Soybeans