Burned By Medco
It looked like a hot stock. So how is Guy Adami playing Medco now that he’s been burned?
On March 22nd the Negotiator made the fateful call. At the time he was bullish.
“We had the Medco CEO on the day before,” Adami explained, and “I believe these guys have earnings power. Frankly I still think you can own them here.”
Unfortunately all this health care trade did was make the Negotiator sick. Since he suggested a long position the stock is down over 5%.
What does he have to say about this trade now?
I still think when they report earnings they will knock the cover off the ball, says Guy Adami. I think the stock is still a buy.
Got something to to say? Send us an e-mail at firstname.lastname@example.org and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send your e-mail to email@example.com.
Trader disclosure: On April 13, 2010, 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 (CSX) call spread; Najarian Owns (LVS) call spread; Najarian Owns (JPM) call spread; Najarian Owns (BAC) Calls; Najarian Owns (C) Calls; Najarian Owns (CSX) Call spread; Najarian Owns (LVS) Call spread; Najarian Owns (JPM) Calls; Najarian Owns (PCX); Najarian Owns (TXN) Calls; Najarian Owns (VLO) Calls; Najarian Owns (YUM) Call Spread; Adami Owns (INTC), (GS), (AGU), (MSFT), (NUE), (BTU), (C) ; Finerman's Firm Is Short (IJR), (MDY), (IWM), (IYR); Finerman's Firm Owns S&P Puts; Finerman's Firm Owns (JPM); Finerman Own (JPM) ; Finerman Owns (BAC); Finerman's Firm Owns (BAC); Finerman's Firm Owns (BAC) Preferred; Finerman's Firm Owns (TGT); Finerman's Firm Owns (WFC) Preferred; Finerman Owns (WFC) Preferred; Finerman Owns (YUM); Seymour Owns (CHL), (DRYS), (GE), (BAC), (EEM), (F), (INTC), (LVS), (SBUX); Seymour's Firm Owns (POT)
For Patty Edwards
Edwards Owns (JPM) for Clients
Edwards Owns (INTC) for Clients|
Edwards Owns (GS) for Clients
For Citi analyst Donald Fandetti
Citi Owns (AXP)
Citi Owns (COF)
Citi Has Provided Baking Services To (AXP)
Citi Has Provided Baking Services To (MA)
Citi Has Provided Baking Services To (COF)
Citi Expects To Receive Compensation from (AXP), (V), (MA)
Citi Has Acted As Manager or Co-Manager Of Offering of (AXP), (COF)
Citi has Managed a Securities Offering of (YUM)
Citi Has Received Compensation from (YUM)
(YUM) is an investment banking client of Citi