The Fast Money Misfires
Sometimes a stock is hot and other time it just burns. Following are the Fast Money misfires.
On October 15th The Pit Boss turned bullish on a tech play. He said, “ I was looking at Broadcom (BRCM) today.. it was going higher in this negative tape. I like Broadcom a lot."
But since the call, shares lost 16% after disappointing earnings results.
Pete Najarian feels the decline is due to BRCM spending a lot of money on R&D. Because they intend to spend more, it’s probably time to cut losses, he says.
On October 5th the Lone Wolf went shopping for a high end retail stock.
He said “I mean the fact that Wall Street bonuses aren't big isn't going to affect Tiffany's and Coach (COH). I would still be long Coach because I think they are a very, very good merchant and a great brand."
Since the call, the company guided lower and shares of Coach lost 21%.
Jeff Macke still thinks Coach is a great brand and he’s open to buying the dip.
On September 12th, The Negotiator was bullish on Zimmer Holdings (ZMH). He said, “It’s a lot cheaper than (competitor) Stryker. I've loved this stock before, I continue to like it."
But the medical device maker lowered its fourth quarter guidance and since Adami’s call, shares are down 15%.
Guy Adami still thinks ZMH is a buy, because the fundamental baby boomer story is in tact.
On October 1st, The Chairwoman, an ardent Icahn fan, suggested selling a navigation play. She said, “I think the NAVETEQ valuation gives me great pause. I would buy Garmin (GRMN) puts."
But an upgrade pointed to even higher returns. Shares are up 9% since Karen's sell call.
Karen Finerman says the trade didn’t work. C’est la vie!
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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