We’ve been doing more Wall Street whale watching. And we’ve spotted one giant, who appears ready to throw his weight around and force some changes at Kraft (KFT).
Karen Finerman says when Nelson Peltz took a position in Kraft she took notice because he’s an activist shareholder.
Finerman explains Peltz has a window available to him, within the next 30 days, he could nominate a new slate of directors.
Finerman thinks this is something to watch closely and she reveals that she owns Kraft.
Guy Adami says he thinks $33 is probably the floor in KFT and he speculates that it could go to $36.
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Trader disclosure: On Oct 16, 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 (INTC) (SWY), Najarian Owns (DISH), (GOOG), (UA); Najarian Owns (IBM) Options ;Najarian Is Short (PNC); Finerman Owns (GS), (C); Finerman's Firm And Finerman Own (KFT); Finerman's Firm Owns (LTD), (NMX), (NYX), (VCLK), (JNJ), (MO), (MSFT), (COP), (BIIB) Finerman's Firm Is Short (WFC); Finerman's Firm Owns S&P 500 Index Puts; Finerman's Firm Owns Russell 2000 Index Puts; Finerman's Firm And Finerman Own (FLS)