Following are the day's biggest winners and losers. Find out why shares of Crocs (CROX), Dendreon (DNDN) and First Solar (FSLR) popped while Lehman Bros (LEH) and DirecTV (DTV) dropped.
POPS (stocks that jumped higher)
Crocs (CROX) popped 10%. Investors poured back into the shoe company, whose shares had more than doubled in 2007 before the recent selling. - Stacey Briere Gilbert says Crocs announced they’re making footwear other than sandals. However, she calls it a tough story to sell.
First Solar (FSLR) popped 10%. Shares of Phoenix-based solar-panel maker jump, after tripling through the end of July, resumed its uptrend. – Pete Najarian says he sees the stock taking off.
Dendreon (DNDN) popped 4%. The volatile biotech firm said breast-cancer patients in a preliminary study showed a positive response to its Neuvenge compound. – Pete Najarian says the drug is only in stage 1 trials. There’s a long way to go.
Smurfit-Stone Container (SSCC) popped 5%. The biggest US packaging company rose on positive analyst comments after shedding a third of its value in the last 5 weeks. – Guy Adami doesn’t like this stock.
Baidu (BIDU) popped 6%. Value hunters jumped into the hot Chinese Internet stock after the shares cratered last Thursday. - Pete Najarian likes this stock and has been bullish on it for a while.
Tribune (TRB) popped 5%. Investors had new confidence Sam Zell will complete his purchase of the newspaper publisher after the shares closed Friday 25% below his offer price. - Stacey Briere Gilbert says it’s still unclear if the deal will close.
DROPS: (stocks that slid lower)
Lehman Bros (LEH) dropped 2%. After a respite Friday, the securities firm was under the gun again Monday as the credit crunch resumed for financial companies.- Guy Adami says not to own this stock until it’s down 50% from its highs.
DirecTV (DTV) dropped 4%. A Federal judge ordered the satellite-TV company to stop claiming customers prefer its high-definition service after rival Comcast complained in court. – Jeff Macke says sell DTV.
Moody's Corp. (MCO) dropped 8%. After 107 years of respectability, the rating firm is suffering a credibility crunch as the subprime mortgage mess wreaks havoc on The Street. - Stacey Briere Gilbert says she doesn’t like any stock that’s exposed to subprime.
Nordstrom (JWN) dropped 3%. Credit worries moved upscale as the high-end retailer said more card users are going delinquent on payments. – Jeff Macke says he’s long JWN and he’s not selling this stock.
John Henry financial and metals portfolio drops 12% in July. The Red Sox owner said his Financial and Metals portfolio got whacked as investors around the world unwound the yen carry trade.
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Trader disclosure: On Aug 20 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money; Macke Owns (DIS), (JWN); Najarian Owns (ATML); Najarian Is Short (GS) Najarian Owns S&P Puts; Stacey Briere Gilbert Is Chief Options Strategist For Susquehanna Financial Group, LLLP; Gilbert Is Head Of Market Intelligence Research For Susquehanna Financial Group, LLLP; Gilbert Does Not Cover Individual Securities But Does Recommend Trading Strategies
Susquehanna Financial Group Is A Market Maker In (ATML), (BIDU), (CROX), (DNDN) (FSLR), (FXI) (GYMB), (GRMN), (GOOG), (INTC), (JKHY), (LEND), (MSFT), (NDAQ), (PSUN), (PALM), (Rost, (RIMM), (SPLS), (SSCC), (TRMB), (YHOO), (ZUMZ), (QQQQ); Susquehanna Financial Group And/Or Its Affiliates Together Own More Than 1% Of The Shares Of (BSC), (BIDU),(CROX), (CME), (DNDN), (LEND), (NMX),(PALM), (RIMM), (MA), (FCX); Susquehanna Financial Group Has Provided Advisory Services To (AEO); Susquehanna Financial Group Has Provided Advisory Services To (GYMB)
