On May 16, Jeff Macke said he saw operational problems in Sony (SNE) with regard to sales of its much-hyped PlayStation 3 console. “The improvements that you haven’t seen speak louder to me than the games that they are promising going forward,” Jeff said. “This is a sell.”
Today we learn that the PS3 is losing in Japan by a 5-1 margin to Nintendo’s Wii console. PS3 is a flop at this point, Jeff says. He would stay long Nintendo and Activision (ATVI) and continue to stay away from Sony.
The guys have long been bullish on E M C (EMC), the data storage company that has been on a tear since March. Jeff recommended it on March 28, Eric Bolling liked it on May 23 and Guy Adami had it as a buy on May 25, saying EMC “looks like it’s a $20 item.”
After shrugging off a Bear Stearns downgrade last week (and making a small acquisition on Monday of a privately-held IT security firm), Guy Adami thinks EMC still goes to $20.
And finally, a viewer is calling for a trade update of her own. Tina from Arkansas wants to know the guys’ thoughts on the uranium trade, particularly USEC (USU).
Uranium traded at $162 per pound today. That’s an 800% increase since 2003. Eric Bolling thinks it could be going even higher. Other than Cameco (CCJ), USU has been a quiet but “brilliant” company in the space. The company produces usable uranium out of old missiles from Russia and it has government contracts as well. Even though it’s flat lining right now, he thinks it’s a name to stick with.
Got something to say? Send us an e-mail at firstname.lastname@example.org and your comment might be posted on the Rapid Recap! Prefer to keep it between us? You can still send questions and comments to .
Trader disclosure: On June 5, 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 (EMC), (ATVI), (SWY), Bolling Owns (NMX), Sugar Natural Gas Futures; Bolling Is Short S&P Futures; Bolling Is Short Nasdaq Futures; Najarian Owns (RACK), (OCPS), (ALVR)
NBC Universal Is The Parent Company Of CNBC