No. 3 - The CEO Job Nobody Wanted
You might call it the CEO job that nobody wanted: turning around this country's largest clothing retailer. After a 7 month search, The Gap (GPS) hired a Canadian drugstore executive to take the helm in July. Thursday, when the company releases its quarterly earnings, The Street will get their first crack at Glenn Murphy. Can he turn The Gap around?
Jeff Macke isn’t sure how Murphy will work out. Murphy, he explains, is a former Canadian drug store executive. He feels The Gap needs a savvy merchant in the job.
Jeff adds that Thursday's earnings call will likely be his litmus test. Also Jeff reveals that he will be listening closely for fashion initiatives The Gap is taking -- to begin its turn around.
Pete Najarian feels The Gap is a simple fix, if Murphy is up to the job.
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Trader disclosure: On Aug 22 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money; Najarian Owns (BMY), Najarian Owns S&P Puts: Stacey Briere Gilbert Is Chief Options Strategist For Susquehanna Financial Group, LLLP: Gilbert Is Head Of Market Intelligence Research For Susquehanna Financial Group, LLLP: Gilbert Does Not Cover Individual Securities But Does Recommend Trading Strategies; Gilbert Has A Long Position In (HOT); Susquehanna Financial Group Is A Market Maker In (AMTD), (AAPL), (BCSI), (ETFC), (FWLT), (GYMB), (IRBT), (JBLU), (NTES), (NTAP), (UAUA), (WYNN) (ZUMZ), (CTSH) Susquehanna Financial Group And/Or Affiliates Together Own More Than 1% Of (BCSI), (BSC), (CAL), (LCC), (NMX), (NYX), (NTES), (UAUA), (IMB), (GT); Susquehanna Financial Group And/Or Affiliates Together Owned More Than 1% Of (FCX) On 8/20/07