Stocks finished mixed amid volatile oil prices and a weak manufacturing report from the Fed. What follows are some of CNBC's highlights from Monday:
Former Lehman Brothers CFO Speaks
“The average lifespan of a CFO at Lehman [Brothers] since 1994 is 854 days. It’s kind of like being a may fly… It’s a tough job…To do it right, you get people angry at you. And, you know, let’s face it— Wall Street is a tough place. We shoot our wounded; we eat our young."
- Brad Hintz, former Lehman Brothers CFO
Know Your Options
"Meanwhile, if you take a look at Goldman [Sachs] with the earnings due tomorrow, we saw Goldman—nobody was buying into that stupid rumor that was being passed around—even when on Wednesday when the market was softer last week. Goldman did trade down to about $161, but that was a gift from the trading gods… Oh there was a rumor that Goldman was going to announce a big write-down Wednesday last week. We didn’t believe it at all; there was no follow-through in the puts. Instead, there were very much people buying into the rumor, as it fell—buying the stock and buying the options—the call options. The stock is $17 higher in just two sessions. So I think Goldman, tomorrow, that holds well for them ahead of the earnings that there was such conviction that people were buying into it so strongly."
- Jon Najarian, OptionsMonster.com co-founder
Planting Seeds for Change
“[By 2030—] we think there is opportunity to double yields in our corn, and our soy and our cotton business. And as we double those yields due by consuming a third less stuff, whether that’s water, fertilizer or energy… But, I absolutely believe that’s possible, given the performance of our newly-improved seeds.”
- Hugh Grant, Monsanto chairman & CEO
Maria's Market Message
“The Bear Stearns hedge funds that helped mark the start of the credit crisis—they’re making headlines again today. Federal prosecutors ready to file criminal charges against the managers of the two funds.”
- Michelle Caruso-Cabrera, CNBC
Stop Trading, Listen to Cramer!
“Nokia has no momentum whatsoever… We all know how this market works. It’s momentum-driven. If Verizon[Communications] does put through these great orders… Sanderson has got a couple of good points. He’s talking about an aggressive, aggressive ramp for some new products. If they make it, it’s going to be like Mastercard. This market doesn’t have any regard for valuation when you have momentum.”
- Jim Cramer, Mad Money host