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Serwer: Three stocks to avoid
Sure, they may be big names in retailing and media, but right now they have no traction.
December 20, 2005: 9:32 AM EST

NEW YORK (CNNMoney.com) - We may be dealing with the logistics issues, but that doesn't mean we don't keep an eye on what's happening stockwise ...

WAL-MART...Oh the beat goes on for the beast of Bentonville. The bad beat that is. The U.S. Attorney's office in L.A. says Wal-Mart is the target of a criminal investigation involving how it transports hazardous waste. Called the company to ask what the heck the hazardous waste was. Answer: "aerosol cans, plant food, silly string, paint, nail polish, and things of that nature." But you know what. This ain't going to beat up the stock (Research) too much. Why? It's already hurt bad enough. At some point all the negative news will end, but not for a while.

TIME WARNER: So now Carl Icahn says that he doesn't like the fact that Time Warner is selling 5% of AOL to Google for $1 billion. Huh? Okay, dude now you're being a bit of a contrarian! Seems like no matter what Dick Parsons does, Carl's against it. (Like the Ramones tune, "I'm Against It.") Market yawned on this, and the stock continues to be stuck in that deep, shoe-goo trading range. $16 to $19 and back again. If this is TimeWarner's big AOL play, the stock (Research) could tail off a bit from here....

CABLEVISION: Confound it, can't this company get anything right!? Company is canceling a $3 billion dividend. Says it violates a bank borrowing agreement. What you talking about Willis, er Dolans? But then again it's always impossible to figure out what this Long Island, NY company is up to. That's why the only people who ever touch this stock (Research) are the few, the proud, and the brave. And then only with a ten foot pole. Avoid.

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Email Andy Serwer at serwer@fortunemail.com.  Top of page

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