This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

'Fast Money' Recap: Lowly Lehman

On Monday night's "Fast Money" show on CNBC, Melissa Lee started the program stating that the major indices closed in negative territory. She continued by saying that American International Group (AIG - Get Report) and Lehman Brothers (LEH) were down alongside with most financials.

Pete Najarian said "nothing was helping this market today." He also said commodities from metals to crude oil "did not help." In addition, he said he felt that a "big part" of the downside in financials specifically had to do with Lehman Brothers.

Guy Adami said, "I see it trade single digits," making reference to Lehman Brothers currently trading at $13.45. He also mentioned that he does not see any reason for investors to own the stock, especially when he "does not see the company getting bought out."

Joe Terranova said that what the market lacked today was a catalyst. He then said he wondered what kind of catalyst will it take to move the markets.

Jon Najarian said he noticed that ChevronTexaco (CVX) has dropped considerably -- the stock is down 15% to $85.38 in the past three months.

Regarding Lehman Brothers, Adami said he foresees Ricahrd Fuld, chief executive officer of Lehman Brothers, "going out the door soon."

Pete Najarian questioned whether Lehman Brothers employees will stay working at Lehman Brothers. Answering his own question, Najarian said he believes more and more Lehman employees will leave for better opportunites, since they do not know what the future holds for Lehman.

Elsewhere in Financials

Chart of the Day was Goldman Sachs (GS - Get Report).

Najarian reiterated what he always felt about Goldman Sachs, that it is the best of breed when it comes to investment banks. He went on to say, "if it breaks even lower, it could be considered a buy." While he does like Goldman, he currently owns Morgan Stanley (MS - Get Report).

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
TIE $16.50 0.00%
KOL $14.44 0.28%
UNG $13.67 -0.51%
AIG $55.65 0.58%
AMD $3.21 3.22%

Markets

DOW 18,288.63 +155.93 0.86%
S&P 500 2,117.39 +12.89 0.61%
NASDAQ 5,008.0960 +44.5690 0.90%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs