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The Fast Money Misfires

Monday, 10 Sep 2007 | 10:46 AM ET

Sometimes a stock is hot and other times it just burns. Following are the Fast Money misfires

Jeff Macke

On several occasions in early August, the Lone Wolf howled his love for, Costco (COST), a wholesale powerhouse. He said, “Costco, I think you get married to."

But since then, shares of Costco are off about 11%, including a 5% decline this week on poor same store sales figures.

Fast Money Misfires
The Fast Money guys own up to their previous off-target stock recommendations.

Today Jeff says add COST stock to your portfolio in the $50’s and sell in the $60’s. (It’s worth noting on Friday September 7th COST shares closed at $57.)

Guy Adami

Just this week, on Wednesday September 5th, The Negotiator felt umm-umm good about his Web-Extra pick. He said, "I like Campbell's Soup (CPB). It’s a huge growth story."

But disappointing earnings sent shares down 6% since Adami's call leaving him with a bad taste in his mouth.

Today Guy admits his timing was off and he was wrong about this play.

Karen Finerman

On Tuesday September 4th, The Chairwoman was bullish on a back-to-school pick. She said, “I like Office Depot (ODP). The back to school customer is still there."

School may be on -- but the trade was off. Shares of Office Depot declined 18% after the company slashed guidance.

Today Karen says cut your losses and get out.

Pete Najarian

And finally, on Wednesday September 5th, The Pit Boss looked into the palm of his hand and offered this tech play. He said, “Look at Research in Motion (RIMM). I think all these gadget makers will continue to go strong."

But shares of RIMM have been off 4%, perhaps in response to the price reduction in Apple's iPhone.

Today Pete says he still likes this company and he doesn’t regret the call.

  Price   Change %Change
COST
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CPB
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ODP
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BB
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Trader disclosure: On Sept. 7, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Najarian Owns (BJS), (BQI); Najarian Is Short (GS); Finerman Owns (GS); Finerman's Firm And Finerman Own (HD); Finerman's Firm Owns (AA), (KFT),(NTO), (WMT) Finerman's Firm Owns S&P 500 Puts ; Finerman's Firm Owns Russell 2000 Puts ; Finerman's Firm And Finerman Own (HD)

  Price   Change %Change
BB
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CPB
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ODP
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COST
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Contact Fast Money

  • Showtimes

    Halftime Report - Weekdays 12p ET
    Fast Money - Weekdays 5p ET
  • Melissa Lee is the host of CNBC's “Fast Money” and “Options Action.”

  • Scott Wapner is host of the "Fast Money Halftime Report," which airs weekdays from 12 p.m. to 1 p.m. ET.

  • Guy Adami is a contributor on CNBC's "Fast Money." He also is managing director of stockMONSTER.com.

  • Najarian, the "Pit Boss," is cofounder of optionMONSTER.com, a news site for options traders.

  • Finerman is president of Metropolitan Capital Advisors, Inc., a company she co-founded.

  • Founder of EmergingMoney.com

  • Chief Market Strategist for Virtus Investment Partners & CNBC Contributor

Halftime Report

  • Jay Yarow, The Business Insider, and Steve Milunovich, UBS, discuss whether Tim Cook is to blame for Apple's drop in growth. I think it's pretty clear they missed the big phone market and overestimated the success of the plastic 5C phone, says Milunovich.

  • CNBC's Eamon Javers reports on Bill Ackman's stake in Allergan. Javers says this is a classic case of insider trading that is not against the rules.

  • FMHR trader Josh Brown thinks Dunkin' Brands looks fantastic technically, while Mike Murphy says investors are questioning the company's massive expansion plans.