It’s time for the family feud. A “Fast Money” family fued, that is. Herb Greenberg is in the house – and his punches come faster and harder than most heavyweight boxing champs. Forget Ali v. Frasier or even Rosie v. The Donald - those were just skirmishes. What follows is a down home “Street Fight.”
When he’s in the same room as Herb Greenberg, our Commissioner, Dylan Ratigan is transformed into a wild dog, snapping at the air, eager to provoke a fight. Well, not really but he does loves to show clips from past shows that send Herb into a frenetic frenzy.
Fight 1: Strazzini on Panera (PNRA)
On February 22nd Tim Strazzini said “A trend is developing (in Panera’s stock price). They have got two good same store sales numbers. Something I learned from Macke, follow the trend, (if) the next same store sales number is a solid one the stock is going to 65.”
Herb comes out swinging. He says same store sales are not doing very well. Today they were down 6/10’s of one percent. And what’s worse they’re not doing as much volume at lunch time as they had hoped. Herb thinks Panera has hit a wall.
Tim throws a hand up to deflect the blow (not really) and says Herb is right. Storms hit the mid-west where Panera is concentrated. People didn’t go out for Panera bread with 3 feet of snow on the ground. So they missed sales. But, this stock has held up well. He agrees there’s negative news – but this stock behaved great and he would continue to own it. Tim sees it at 65 dollars.
Dylan declares Herb the winner of round one.
Fight 2: Adami on Microsoft (MSFT)
On February 16th Guy Adami said “(Microsoft) stock rallied 44% from June. Everything was in the stock already. You have to know what the stock has been doing - what’s priced in. That’s how you know how to buy or sell things… specifically in this case, sell."
Herb goes for the kill and says the stock is down about 2 points since Guy made this call. But this is a longer term story. Only 3 out of the companies 7 businesses are very profitable. Those are Office, their server business and the Windows business. And those businesses are coming out with new products. Microsoft is on a roll.
Guy says he couldn’t agree more. But when he made the call he said sell it at $31 dollars. He loves Microsoft -- but not at 31.
Dylan declares round 2 for Adami.
Fight 3: Bolling on Palm (PALM)
On February 22nd Eric Bolling said, “Blackberry is kicking the you know what out of Palm. This is a company so well positioned to be bought. Take a look at the Palm chart. Oh look at that...Are you kidding???”
Herb says that was a foul ball. Take a look at the short term Palm chart which doesn’t look good. It’s a takeover target and the stock is up.
Eric says his call was a grand slam. The stock went up for a couple days, only. But Eric’s Palm chart shows the company down 12% over one year and the Research In Motion (RIM) chart show that company is up a whopping 71%. (RIM is the maker of BlackBerry)
Dylan says round three goes to Eric Bolling! But as always, Herb put up a good fight. Now where are the band-aids??