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No. of Recommendations: 0
Well those of us who really have a feel for this company and had some capital made a small killing today and I think cree has better upside than alot of the other high flyers like Juniper.

I think the next one set to go zoom is SAWS.
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No. of Recommendations: 14
I agree.

But today Joe Kiernan and CNBC hit a new low in terms of competence. When Kiernan came on in the afternoon and blamed some news service for CNBC's inaccurate reporting, I was flabbergasted. Here is the leading TV business news outfit in the world reporting something as "news" based on what some relatively obscure wire service wrote, without even trying to do any diligence. He made it pretty clear to me that CNBC had not spoken to the company and had not bothered to listen to the call prior to reporting this "news." Instead they chose to rely on someone else's reporting, without checking it, and then blame that news service for the miscue. They even got Cree to issue a press release saying that CNBC had relied on this erroneous report! Amazing.

These guys just miss the point. They give themselves license to report as fact what they have not objectively determined IS fact. Traditionally that's been called yellow journalism. Today, Joe was naked in front of the world regarding the process CNBC uses to gather news to report. And worse, he doesn't even care that he himself has exposed the absence of "process" substance.

The high ratings that these guys enjoy have got to be more related to their haircuts than to their professional acuity.

--fox
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No. of Recommendations: 10
I'll throw in a few comments here about CNBC and reporting in general...

Here is the leading TV business news outfit in the world reporting something as "news" based on what some relatively obscure wire service wrote, without even trying to do any diligence.

Believe me, if CNBC had to really verify everything they reported, some of the news might be a day old and we'd all be up in arms saying "Just give us something!" ;)

First, I've never heard of this BridgeNews service before. But reflecting back to my days in television news, we surely didn't start off every non-local story with "According to the Associated Press..." *Sometimes* we did when attribution seemed necessary.

Yes: "This just in.... the Associated Press says three marines are dead after a bomb exploded in South Nowhere just a few moments ago."

No: "The Associated Press says the Pope toured an orphanage in North Nowhere today."

So... while you may argue "warned of lower margins" fits into the "yes" category, there are plenty who would argue the opposite. I'm taking no position on whether Kernan should have attributed his source when reading that (though I'm leaning toward "no," I don't want every mildy-seeming bad story to start with "According to BridgeNews..."), but I will say there's really no way for the CNBC team to call and verify every wire story before reporting it.

We can, however, debate whether BridgeNews is an accurate enough source for them to use.


They give themselves license to report as fact what they have not objectively determined IS fact. Traditionally that's been called yellow journalism.

No, yellow journalism was when the editor of a paper would inject his interpretation of the news instead of reporting it objectively.


The high ratings that these guys enjoy have got to be more related to their haircuts than to their professional acuity.

I watch them because they deliver the business news in a hilarious and entertaining way. I realize that not all folks like that, but obviously a lot do.

Just my .02 (diluted),

orangeblood
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No. of Recommendations: 2
Another $.02 worth:
CNBC took great pride in their caution and restraint when EMLX scam was playing out. My recollection is that the bases for their self-congratulation were a reluctance to believe a single-source story and criticism of those reporting vehicles (Bloomberg) that pick it up and run with it. Hello!!! Check the mirror Mssr.'s Bolland and Kernen!!! In light of this previous chest-pounding/back-slapping, I think a "us-a culpa" is in order, not just the "well those guys said it" that Kernen delivered.

Pete

p.s. I watch entirely too much CNBC. Is there a support group for this??
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