Stocks on the Move: Apple, TiVo, ValueClick and More...
Following are the day’s biggest winners and losers. Find out why shares of Apple and TiVopopped while Aeropostale and Men’s Wearhouse dropped.
POPS (stocks that jumped higher)
Apple (AAPL) popped 2% after the AT&T CEO said it would release an iPhone next year that can download from the internet faster. Najarian: With two of the top three sellers on eBay, Apple is “rockin’.”
Smithfield Foods (SFD) popped 5%. The pork producer overcame an outbreak of “swine fever” to post volume and margin growth for its packaged meat products. Adami: “Gotta love” the story.
ValueClick (VCLK) popped 7% as UBS initiated coverage on the online advertising firm with a $23 price target; shares zoomed past the $23 mark by day’s end. Finerman: It’s higher on takeover speculation.
TiVo (TIVO) popped 23%. Good news all around for the digital video recording pioneer: subscribers of standalone TiVos are up and the Patent Office handed it a major victory in its litigation with EchoStar. Najarian: The progress with EchoStar is “big” since it’s a competitor.
DROPS (stocks that slid lower)
Men’s Wearhouse (MW) dropped 16%. The suit retailer fell off the rack Thursday after Q4 and full-year forecasts were lower-than-expected. Seymour: A new slogan: “You’re going to love the way you look and you’re going to hate our earnings guidance.”
Aeropostale (ARO) dropped 13%. The teen retailer missed Wall Street’s sales estimates and got hit with a downgrade. Adami: ARO has been one of the few retailers that have done well. It was due for a drop.
Del Monte Foods (DLM) dropped 8%. The company behind Starkist Tun, Contadina tomato sauce and Meow Mix cut its 2008 forecast, pointing to higher expenses for fish, transportation and packaging. Seymour: A 20% earnings miss and a shortfall for Q4 is bad news any way you slice it.
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Trader disclosure: On Nov. 29, 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 (BSC) Options, Najarian Owns (COP) Options, Najarian Owns (ETFC), Najarian Owns (EMC) Options, Najarian Owns (GOOG) Options, Najarian Owns (YHOO) Options; Seygem Asset Management Owns (AAPL), Seygem Asset Management Is Short (EEM); Seymour Owns (FRE), Seygem Asset Management Owns (INFY), Seygem Asset Management Owns (TSL), Seygem Asset Management Owns (INTC), Seymour Owns (MER), Seymour Owns (MS), Seygem Asset Management Owns (MSFT), Seymour Owns (YHOO); Finerman's Firm Owns Russell 2000 Puts, Finerman's Firm Is Short (SPY), Finerman's Firm Is Short (IWM), Finerman's Firm Is Short (IYR), Finerman's Firm Is Short (IJR), Finerman's Firm Owns (BIIB) Options, Finerman's Firm And Finerman Own (GS), Finerman's Firm Owns (JWN), Finerman's Firm Is Short (LEH) And Owns (LEH) Puts, Finerman's Firm Owns (MSFT) Options, Finerman's Firm Is Short (MBI), Finerman's Firm Owns (NMX), Finerman's Firm Owns (NYX), Finerman's Firm Owns (VCLK), Finerman's Firm Owns (WMT), Finerman's Firm Owns (YHOO); Finerman’s Firm Owns Fortis, finerman’s Firm Owns (UFS); Charles Schwab is a sponsor of Fast Money