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Web Extra: Burned by Adobe

A short position in Adobe looked like a smooth move to Tim Seymour, but as it turned out, he tripped up.

The Ambassador made the call on November 23rd citing problems with their latest software. “Users are having trouble upgrading to the new Suite 5,” he said at the time. “It’s probably going down more.”

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But shares didn’t go down more. In fact, since Seymour made the call shares of Adobe have surged 16%.

So what does he have to say about this stock now? Find out in this web extra. Watch the video now!






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Trader disclosure: On January 11th, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Seymour owns (AA); Seymour owns (AAPL); Seymour owns (BAC); Seymour owns (F); Seymour owns (GE); Adami owns (AGU); Adami owns (C); Adami owns (BTU); Adami owns (GS); Adami owns (INTC); Adami owns (MSFT); Adami owns (NUE); Adami's wife works at (MRK); Jon Najarian owns (AA), is short (AA) calls; Jon Najarian owns (AAPL), is short (AAPL) calls; Jon Najarian owns (ADBE), is short (ADBE) calls; Jon Najarian owns (BBY), is short (BBY) calls; Jon Najarian owns (BP), is short (BP) calls; Jon Najarian owns (C), is short (C) calls; Jon Najarian owns (F), is short (F) calls; Jon Najarian owns (GM), is short (GM) calls; Jon Najarian owns (GS), is short (GS) calls; Jon Najarian owns (NFLX), is short (NFLX) calls; Jon Najarian owns (QCOM), is short (QCOM) calls; Jon Najarian owns (AXP), is short (AXP) calls; Jon Najarian owns (STI), is short (STI) calls; Jon Najarian owns (ARUN), is short (ARUN) calls; Jon Najarian owns (EXPE), is short (EXPE) calls; Jon Najarian owns (GXDX), is short (GXDX) calls; Jon Najarian owns (LULU); Terranova owns (GM); Terranova owns (C); Terranova owns (VRTS); Terranova owns (UPL); Terranova owns (PEP); Terranova owns (OXY); Terranova owns (GS); Terranova owns (LTD); Terranova owns (CNQ); Terranova owns (PVH); Terranova owns (CVI); Terranova owns (RIMM); Terranova owns (GLD) puts; Terranova owns (SLW) puts

For Joe Terranova
Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
Virtus Investment Partners Owns More Than 1% Of (ABAX)
Virtus Investment Partners Owns More Than 1% Of (AMKR)
Virtus Investment Partners Owns More Than 1% Of (CCG)
Virtus Investment Partners Owns More Than 1% Of (CASS)
Virtus Investment Partners Owns More Than 1% Of (CSVI)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (FCFS)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (KRC)
Virtus Investment Partners Owns More Than 1% Of (LDR)
Virtus Investment Partners Owns More Than 1% Of (LPHI)
Virtus Investment Partners Owns More Than 1% Of (NCRI)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLV)
Virtus Investment Partners Owns More Than 1% Of (XLP)
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (XLE)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of (XLK)
Virtus Investment Partners Owns More Than 1% Of (XLU)
Virtus Investment Partners Owns More Than 1% Of (SUBK)
Virtus Investment Partners Owns More Than 1% Of (WDFC)
Virtus Investment Partners Owns More Than 1% Of (YDNT)
Virtus Investment Partners Owns More Than 1% Of (CLB)

For Barry Ritholtz
FusionIQ owns (AMT) for clients

For Andy Busch
Busch has no disclosures

For Peter Misek
Jefferies is a market maker in (AAPL)
Jefferies is a market maker in (CELL)
Jefferies is a market maker in (RIMM)
Jefferies is a market maker in (SWIR)
Jefferies acted as a financial advisor to Enfora on sale to (NVTL)
Jefferies is a market maker in (NVTL

For Anthony Scaramucci
Scaramucci and Skybridge Cpital own (UNH)

For John Hodulik
(VZ) is or within past 12 months has been a client of UBS Securities
UBS Securities has provided or are providing non-securities services to (VZ)
UBS Securities has received compensation from (VZ) within the past 12 months

For Scott Nations
Nations has no disclosures

For Kevin Starr
Agios, Edimer, Zafgen, Bluebird Bio Are Portfolio Companies Of Third Rock Ventures

For Tim Seymour SOT
No disclosures for (ADBE) on 11/23

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NBC Universal is the parent company of CNBC



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