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Mayhem At Merrill

Speculation is mounting that next week there could be a new chief at Merrill Lynch. CNBC’s Charlie Gasparino has the details.

(Following are excerpts from Gasparino’s conversation with the Fast Money panel.)

In late breaking news, Charlie Gasparino reveals new speculation that Larry Fink, the CEO of BlackRock could be named the new Merrill Chairman. The CEO job might be split between Greg Flemming and Bob McCann, he says, who would run Merrill as Co-CEO’s.

Gasparino also reveals that Stan O’Neal is telling those closest to him that he expects to lose his job within the next week. However, don’t trade that piece of information - O’Neal’s departure is already baked into the stock, he says. And if O’Neal doesn’t leave, the stock could slide to $55 says Gasparino. (It’s worth noting on Friday Oct. 26th MER closed at $66.09.)

Pete Najarian doesn’t think Merrill is a buy on the news. He feels the model is broken.

Jeff Macke thinks the trade is shorting MER ahead of O’Neal’s departure.

Charlie Gasparino lays odds that over the next 4-6 months a handful of CEO's could get the boot.

Gasparino’s CEO Survival Odds

CEO Company Odds

Stanley O'Neal Merrill Lynch 1.5 - 1
Charles Prince Citigroup 2-1
James Cayne Bear Stearns 5-1

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Trader disclosure: On Oct 26, 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 (ATVI), (INTC), (YHOO), (EMC); Najarian Owns (GOOG), (BHI), (C), (DISH), (HAL), (YHOO), Najarian Owns (SNDK) Calls; Najarian Owns (MSFT) Puts; Finerman Owns (C); Finerman's Firm And Finerman Own (GS), (KFT), (MSFT), Finerman's Firm Is Short (MER) And Owns (MER) Puts; Finerman's Firm Owns (MO), (NVT), (TWX), (YHOO), (BIIB); Finerman's Firm Owns S&P 500 Puts; Finerman's Firm Owns Russell 2000 Puts; Finerman's Firm Owns (BEAS) And (BEAS) Options

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