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Morgan Stanley Suggests CNBC Check Themselves Before They Wreck Themselves

Although the Morgan Stanley’s handling of the social media site’s disastrous stock offering is under scrutiny by just about every business news outlet under the sun, a Wall Street insider tells us the  investment banking’s corporate communications warriors are blaming CNBC for engaging in some pre-IPO hyping of their own. CNBC senior vice president and editor in chief Nik Deogun “is under fire,” says the source. “Morgan Stanley is telling him, ‘How dare you criticize us when you guys promoted this IPO worse than anybody.’ ” The source recalls examples of CNBC’s on-air exuberance in the days leading up to the IPO, including treating Facebook CEO Mark Zuckerberg ’s entrance at the kick-off of the company’s investors road show at the Sheraton hotel in midtown as if it were “the President’s State of the Union Address” with multiple cameras and reporters. Then on May 17, the day before the actual IPO, the hosts of CNBC’s “Fast Money” appeared on camera wearing hoodies — a reference to Zuckerberg’s favorite fashion item, which came off like an homage to the baby billionaire. That same day, controversial “Mad Money” host Jim Cramer told his viewers, who tend to be mom-and-pop investors and market-playing college students, “If you can get in on the actual IPO, then I think Facebook is a no-brainer.” He added: “We all know this one’s going to pop like crazy on its first day of trading, so if you can get in on the deal, I think you should try to get your hands on as many shares as possible.”…CNBC spokesman Brian Steel said: “CNBC’s Facebook coverage has been widely acknowledged as fair, balanced and insightful.” [NYDN, related, related]

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30 Responses to “Morgan Stanley Suggests CNBC Check Themselves Before They Wreck Themselves”

  1. notjimcramer says:

    Jim Cramer told his viewers…“If you can get in on the actual IPO, then I think Facebook is a no-brainer.” He added: “We all know this one’s going to pop like crazy on its first day of trading, so if you can get in on the deal, I think you should try to get your hands on as many shares as possible.”

    [youtube o3FVBKic5Ek&feature=results_video&playnext=1&list=PL557BEE304AD80A59 http://www.youtube.com/watch?v=o3FVBKic5Ek&feature=results_video&playnext=1&list=PL557BEE304AD80A59 youtube]

  2. Fair and Balanced says:

    Hey assholes, that's our tagline. Get your own.

    -Fox News

  3. PointBreakFan says:

    FACEBOOK IS FINE!!!!!!!!!!!!!!!!!

  4. forehead slap says:

    Not sure what's worse, that he stole Fox News tagline, or that he said something on CNBC was insightful

  5. kyle says:

    I was disappointed with all of the coverage on FB, as CNBC got away from their bread and butter- focusing on Joe Kernan's golf game.

  6. LARRY says:

    NEW FLASH
    CRAMER IS AN IDIOT

    • jae003 says:

      Cramer is a criminal. Unfortunately, SEC is sleeping at the wheel.

      If you made an investment decision based on what "Cramer" screamed, you deserve to lose $.

      • HighFrequencyHater says:

        Is "sleeping at the wheel" the new euphemism for jacking off to tranny porn?

    • guest says:

      Thanks for that stunning insight.

  7. RBS Corgi Quant says:

    Please, MS claims that putting Wapner and Adami in hoodies is "hype?" Bullshit. If they really wanted to hype it up they would have had Drury and Bartiromo in bikinis poking each other.

  8. Guest says:

    Hey Zucky, smell my finger!

  9. guest says:

    i know cramer is a complete assclown, but did he actually say that stuff about fb being a "no brainer" and all of us knowing it was "going to pop like crazy"? good lord that guy's a disgrace.

  10. Cramer says:

    your money is safe at bear stearns!

  11. pointer says:

    Fool me once, shame on you
    Fool me twice, shame on you again

    – MS

  12. Guest says:

    CNBC is as insitefull as L. Tilton is pleasant to look at.

  13. Tool says:

    Yeah, like a spokestool is going to say anything other than how responsible CNBC acted… why bother giving us the quote?

    CNBC is pretty much useless… it will make a good partner for Yahoo.

  14. HighFrequencyHater says:

    Did anyone else catch CNBC.com website on 5/18? The entire front page was dedicated to facebook.

  15. ReaganLaw says:

    Yeah, you guys definitely botched that one.

    -Greece