Stocks On The Move: Sina Corp, Rite-Aid...
Following are the day’s biggest winners and losers. Find out why shares of SINA Corp. (SINA) and Superior Energy Services (SPN) popped while Rite-Aid (RAD) and YRC Worldwide (YRCW) dropped.
POPS (stocks that jumped higher)
SINA Corp. (SINA) popped 8%. China's biggest Internet portal was raised to "buy" from "neutral" at Piper Jaffray. – Tim Seymour is bullish.
Superior Energy Services (SPN) popped 19%. This oil services name signed contracts with BP, Chevron and Apache worth $750 million to dismantle downed platforms in the Gulf of Mexico. – If you own it take profits, says Guy Adami.
Strike Beards. 2008's hottest Hollywood fashion trend? Strike Beards...David Letterman and Conan O'Brien were sporting beards on the first night of their return to TV since the strike -- a symbol of solidarity with the striking writers.
Raytheon (RTN) popped 3%. Shares of the defense name were up after winning two U.S. Army contracts worth $18 million. – Guy Adami likes this stock.
Sasol (SSL) popped 3%. This South Africa coal, oil, and gas firm climbed Thursday for no clear reason. – Tim Seymour likes it as a coal play.
Death TV. A new television channel (called ETOS TV) set to launch next month in Germany will broadcast obituaries along with other programming about old age, death and dying.
Apollo Group (APOL) popped 4%. The for-profit higher education company went to the head of the class Thursday on no news.
Newmont Mining (NEM) popped 3%. The world's second-biggest gold producer rose, as gold futures climbed.
DROPS (stocks that slid lower)
Rite-Aid (RAD), Walgreens (WAG) and CVS (CVS) dropped more than 6% each. The three-largest U.S. drugstore chains reported December sales that were below analyst estimates. – Jeff Macke doesn’t like these stocks.
YRC Worldwide (YRCW) dropped 11%. The transportation firm said it expects to take between $650 million and $750 million in charges in its 2007 fourth quarter, mostly related to the lower-than-expected value of USF Corp., which YRC bought in 2005. – I would not touch this stock, says Jon Najarian.
Panera Bread (PNRA) dropped 10%. The dough wasn't rising at Panera: the bakery/cafe chain Q4 same-store sales decreased as much as 1.2%. – It could be worth a look, says Jon Najarian. Buy it in the 30’s, he adds.
NetSuite (N) dropped 8%. Larry Ellison's recently spawned business software firm tumbled, after rising 40% on its IPO two weeks ago. – Buy the dips, counsels Jeff Macke.
Shutterfly (SFLY) dropped 16%. Shares of the online photo-ordering site collapsed on no new news. – Stay away, says Jon Najarian.
Family Dollar (FDO) & 99 Cents Only Stores (NDN) dropped more than 6%. The weakening dollar continues to pummel shares of the "dollar only" chains. – Only own it for a trade, says Jeff Macke.
Searching For "Sex" In China. The names of three banks and the word "stocks" beat "sex" to become four of the most Googled words in China last year. The three banks that were among the most popular searches were China Merchants Bank, Industrial and Commercial Bank of China and China Construction Bank.
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Trader disclosure: On Jan 3, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (INTC), (YHOO); Seymour Owns (F), (MER), (MSFT), (MBI), (INTC); Seygem Asset Managemetn Owns (SSL), (TTM), (CTCM), Gazprom; Gazprom Is On Pink Sheets In The U.S. But Trades On The Exchange in London; Jon Najarian Owns (AGU), (C), (DE), (GS), (MON), (MOS), (MRO), (POT), (GOOG), (YHOO), (VCLK), (DRIV), (SLB), (UBS), (USB), (IM), (N), (NEM), (MOO), (AG), (NYX), (NDAQ); Jon Najarian Is Short (PNRA), (SFLY), (TSO), (VLO), (YRCW); NBC Universal Is The Parent Company Of CNBC