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