Following are the week’s biggest winners and losers. Find out why shares of Allstate (ALL) and Monsanto (MON)popped while Clearwire (CLWR) and NASDAQ (NDAQ) dropped.
POPS (stocks that jumped higher)
Allstate (ALL) popped 4%. An upgrade from Citigroup and analysts increased the insurance giant's target price to $66 a share. – Guy Adami likes ALL but says stop out at $50.
Monsanto (MON) popped 3.5%. The herbicide maker said it will double its profit to at least 8-billion over the next five years with the launch of new biotech crops. – Pete Najarian thinks MON is a buy.
Larry Hagman. Yes, Dallas oil tycoon JR Ewing is going green! Hagman (aka Major Nelson) is running his 25,000 square foot California home solely on solar energy. Check it out on High Net Worth on Sunday at 8:30pm ET.
Drops: (stocks that slid lower)
Clearwire (CLWR) dropped 38%. Shares plunged after Sprint Nextel canceled a deal to jointly construct the "Wimax" network touted as the fastest mobile network in the US. – Pete Najarian thinks CLWR is a takeover target.
NASDAQ (NDAQ) dropped 10%. The tech heavy index dropped 10% after private equity firm Hellman & Friedman sold off 23.5 million shares valued at nearly $2 billion. – Karen Finerman recommends sticking with this stock.
Washington Mutual (WM) dropped 11%. The nation's largest savings and loan, fell the most in 20 years after New York's Attorney General Andrew Cuomo announced he was investigating a "pattern of collusion'' on mortgage appraisals linked to the company. Washington mutual has lost more than $25 billion in market value this year.
Fannie Mae (FNM) dropped 6%. The lender finally reported all of its delinquent 2007 results to reveal a big Q3 loss, much like many of its mortgage-exposed brethren. The shortfall totaled $1.52 billion. – Tim Seymour thinks it’s a tough story that likely won’t get better.
Whirlpool (WHR) dropped 4%. Whirlpool dropped 4% on the week after Barrons said the company may not be insulated from the housing mess. – Guy Adami thinks the company is getting cheap on valuation.
DROP & POP (stocks that slid lower and jumped higher)
AIG (AIG) dropped 13% on the week but popped 3% on Friday. The insurance company warned in the conference call Thursday that revenue in some parts of the company, such as the mortgage insurance unit, would probably not improve next year. But then shares popped Friday...up more than 3% - Karen Finerman doesn’t know what to make of it.
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Trader disclosure: On Nov. 9, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Najarian Owns (C) Options, (CSCO) Options, (GOOG) Options, (GS) Options, (XLF) Options (YHOO) Options; Finerman's Firm And Finerman Own (GS), (HD), (KALU); Finerman's Firm Owns (WMT), (BEAS), (KSS); Finerman's Firm Is Short (LEH), (MBI), (SPY), (IYR), (IJR), (IWM); Finerman's Firm Owns (BIIB) Options; Finerman's Firm Owns (MSFT) Options; Finerman's Firm Owns Russell 2000 Puts; Finerman's Firm Owns S&P 500 Puts; Seygem Asset Management Owns (AAPL), (CSCO), (EEM), (F), (GLD), (MER), (SBUX), (X), (YHOO), (MSFT),Gazprom
