Which Retail Pick Brings The Guys To Blows?
When CNBC Contributor and Senior MarketWatch columnist Herb Greenberg is in the house – expect a “Street Fight.”
Of course, Herb and the guys are friends – but they’re also what you might call competitive. And nothing brings Herb more satisfaction than attempting to take the traders down.
Round 1: Jeff Macke
First, Herb takes aim at The Lone Wolf because on April 26th he recommended buying Radio Shack (RSH). At the time Jeff said "I love that skepticism going into this earnings release, 4,500 stores there is still plenty of meat left on this bone."
Today Herb says this company has performed well because they were cutting costs. What’s left for them? The stock is up on takeover speculation, that’s it!
Jeff replies that the turnaround has only just begun. Margins are improving and costs are going down.
Dylan Ratigan says Herb’s questions are smart, but the stock is up since Jeff’s call and round 1 goes to The Lone Wolf.
Round 2: Tim Strazzini
Next Herb rips The Risk Doctor because on May 10th he recommended selling Amgen (AMGN), a biotech. At the time Tim said “I think you steer clear….there are concerns about Aranesp in high doses…”
Today Herb says Amgen is not going away. They have a very good pipeline and Aranesp is still in trials.
Tim Strazzini replies that Aranesp represents a huge percentage of their business. And Roche (ROG) has a drug in the same category coming out later in the year. Tim thinks Amgen stock could fall another $5.
Dylan Ratigan gives the round to Tim.
Round 3: Eric Bolling
Finally Herb lashes out at his arch-nemesis, “The Admiral” because on May 9th Eric recommended buying energy company USEC Inc. (USU). At the time Eric said, “USU is up 11% since we started trading Uranium on NYMEX.”
Today Herb says the hope and the hype behind the company lies with technology to get their costs down. Right now their costs are going higher.
Eric thinks the nuclear/uranium story is the only viable energy story for the future -- and Dylan Ratigan gives the round to Eric.
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Trader disclosure: On May 17, 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 (JWN); Strazzini Owns (GOOG), (JBLU), (IBM), (EDS), (WMT), (YHOO); Strazzini Is Short (GOOG) Bolling Owns Gold, Silver, Coffee, Sugar; Bolling Is Short S&P Futures; Bolling Is Short S&P Options