Stocks On The Move: AutoNation, Lowe's...
Following are the day’s biggest winners and losers. Find out why shares of AutoNation (AN) and Lowe's (LOW) popped while Syntax-Brillian (BRLC) and Pep Boys (PBY) dropped.
POPS (stocks that jumped higher)
AutoNation (AN) popped 7%. The automotive retailer jumped after activist investor Eddie Lampert upped his stake in the company to 30%. – Karen Finerman says it was a big day for anything related to retail.
Analog Devices (ADI) popped 3%. The chip supplier to Nintendo's Wii popped as Nintendo announced it sold a record number of games in the first week of the Holiday shopping season this year. Company also offered a solid outlook late Tuesday. – Guy Adami doesn’t like this stock on a valuation basis.
Siemens (SI) popped 3%. The German electronics company looked to shake up its board. – Pete Najarian thinks it’s good news for the stock.
Lowe's (LOW) popped 6%. The home improvement retailer popped as hopes of an interest rate cut fueled housing-related stocks in general. – It could be a dead cat bounce, says Karen Finerman.
Acuity (AYI) popped 7%. The light-maker jumped, possibly on takeover speculation. – Guy Adami likes this stock.
Tax refund. A Salt Lake City man who was expecting a $15 refund received a check for $2 million from the state of Utah. In case you’re wondering, he returned the check.
Children's Place (PLCE) popped 9%. Retail stocks in general experienced a nice lift Wednesday. – Karen Finerman says she likes the stock and she’s long.
Herman Miller (MLHR) popped 18%. The furniture maker soared 18% after the company cut 150 jobs and raised Q2 profit outlook late Tuesday.
VMware (VMW) popped 13%. The jump comes as tech stocks soar, overall.
DROPS: (stocks that slid lower)
Ultrashort S&P 500 (SDS) dropped 6%. The ETF, which moves inversely with the daily performance of the S&P 500 index, fell as the market rallied. – Technicals suggest to Tim Seymour the SDS could trade lower – meaning the S&P could go higher.
Syntax-Brillian (BRLC) dropped 8%. The maker of high-definition television sets forecast '08 top-line figures that were below analysts' estimates. Also said it would change its business model in China to include royalties based on sales of LCD TVs in China. – Pete Najarian thinks their projections also look bad.
Pep Boys (PBY) dropped 16%. The automotive parts retailer fell after it cut approximately 550 jobs and closed 31 stores as part of a five-year restructuring plan. Also its Q3 loss widened partly on declining merchandise sales. – Tim Seymour says it’s not a good story.
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Trader disclosure: On Nov. 28, 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 (NAT), (EMC), (ISIS),Najarian Owns (BSC) Options, (COP) Options, (GOOG) Options, (YHOO) Options: Finerman's Firm Owns (PLCE), (TSO), (WMT), (YHOO), (LOW): Finerman's Firm Owns (BIIB) Options, (MSFT) Options: Finerman's Firm Is Short (SPY), (IWM), (IJR), (IYR), (MDY), (MBI): Finerman's Firm And Finerman Own (GS): Finerman's Firm Owns (HD) And (HD) Puts, Finerman Owns (HD): Finerman's Firm Owns Russell 2000 Puts: Finerman's Firm Is Short (LEH) And Owns (LEH) Puts: Seymour Owns (AAPL), (MS), (MSFT), (YHOO), (GFA), (ITU), (SWC), Gazprom, Lukoil: Seygem Aset Management Owns (EEM), (CTCM): NBC Universal Is The Parent Company Of CNBC