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The Word On Network Appliance, Yellow Cabs...

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NETWOWRK APPLIANCE FALLS 20%

The headline:Network Appliance (NTAP) Misses Quarter and Stock Loses Fifth Of Value

The word: Eric Bolling says the stock is sitting at $30 and if it holds investors can keep the stock. NTAP blames a slowdow in U.S. technology spending for lower revenues however Eric doesn’t anticipate that problem will drag down other companies involved in data network storage. Guy Adami says if it does, he recommends buying EMC Corp (EMC).

RETAIL ROUNDUP:

The headline:Target (TGT) Profit Beats Estimates, While Abercrombie (ANF) Rises After Hours On Earnings

The word: Jeff Macke says TGT told investors they don’t see a marked change in consumers and they will continue to hit numbers. Jeff thinks TGT is the best discounter going – and he still likes Wal-Mart (WMT) because he believes it has bad news already priced into the stock.

THE GREEN TRADE:

The headline: NYC Mayor Mike Bloomberg Making Yellow Cabs Go Green

The word: Pete Najairan says DaimlerChrysler (DCX) is the trade because they have advanced technology for diesel engines making them the cleanest burning diesel engines in the world. Eric Bolling scoffs.

MANAGING UP:

The headline:Affiliated Managers Group (AMG) Surging Since Stake In Hedge Fund AQR 2 Years Ago

The word: Guy Adami says assets have tripled and there’s speculation that AQR might IPO. If that happens it could add $20 to AMG’s stock price, says Guy.

Symbol
Price
 
Change
%Change
504387
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XXICM
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EMC
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NTAP
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TGT
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WMT
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Trader disclosure: On May 23, 2007, 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 (JPM), (BIIB), (FITB), (OVTI); Bolling Owns (DIS) Gold, Silver, Coffee, Sugar; Bolling Is Short (FXI); CNBC Is A Service Of NBC Universal And Dow Jones