Stocks On The Move: Sallie Mae, ICICI Bank
Following are the day’s biggest winners and losers. Find out why shares of Sallie Mae (SLM) and ICICI Bank (IBN) popped while Hewlett Packard (HPQ) and Crocs (CROX) dropped.
POPS (stocks that jumped higher)
Sallie Mae (SLM) popped 7%. The beleaguered student loan lender named turnaround specialist Anthony Terracciano chairman; they also hired a new CFO to find more than $30 billion in new borrowing after a buyout collapsed. – Sell the pop if if you can, says Karen Finerman.
ICICI Bank (IBN) popped 10%. The Mumbai-based bank rose as India's SENSEX index hit a record-high. – I like IBN, says Pete Najarian.
Home Depot (HD) popped 2%. This home improvement retailer moved higher for no apparent reason. – Why would you bother, asks Jeff Macke.
TV. At CES Monday, Sharp announced it would bring to market a 108-inch LCD TV by the end of 2008.
Krispy Kreme (KKD) popped 11%. The donut dealer's CEO Daryl Brewster resigned and will be replaced by Chairman James Morgan. – This stock will never look good to me, says Jeff Macke.
Sony (SNE) popped 3%. On Friday, Warner Bros. said it would support Sony's Blu-ray HD format exclusively.
National City (NCC) popped 5%. After last week's 49% dividend cut led to a sell-off in shares, National City recovered some of its losses Monday.
Ninjas. The so-called "Ninja Bandit" has eluded the NYPD for the 19th time, most recently burglarizing a Staten Island home to the tune of $100,000. The robber, costumed as a ninja and armed with nunchucks, has escaped capture since a string of heists beginning in May.
DROPS (stocks that slid lower)
Hewlett Packard (HPQ) dropped 3%. The PC-giant was sent south amid the tech wreck. – I think the stock is attractive, says Guy Adami.
Crocs (CROX) dropped 14%. Slow business caused the colorful rubber clog-maker to cut its workforce at the end of 2007, according to the Rocky Mountain News. – I think it’s overdone, says Karen Finerman.
Goldman Sachs (GS) dropped 3%. The veritable investment bank, dropped Monday for no clear reason. – I still think the stock is a buy, says Karen Finerman.
Kid Rock. The rocker tells MainStreet.com Apple (AAPL) is “The Best [Expletive] ever but the stock goes lower.
NetSuite (N) dropped 12%. Larry Ellison's “other” software company, which jumped 40% after its IPO in late December, has been caught in the midst of the tech sell-off. – I think it’s a buying opportunity, says Pete Najarian.
Solarfun (SOLF) dropped 16%. The once red-hot Chinese solar stock cooled off Monday as oil pulled back. – It was a party that lasted a little too long. Stay away, says Karen Finerman.
Fortress Investment Group (FIG) dropped 4%. The private-equity-firm-gone-public stumbled Monday for no apparent reason.
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Trader disclosure: On Jan 7, 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 (ATVI), (INTC), (YHOO); Najarian Owns (MCD), (N), (ISIS); Najarian Owns (SYY) Options, (VLO) Options, (YHOO) Options, (AAPL) Options; Finerman's Firm Owns (CROX), (GS), ( HD), (VLO), (YHOO), (DVA); Finerman's Firm Is Short (IJR), (IYR), (SPY), (IWM), (SPG), (TCO); Finerman's Firm Owns (MDY) Puts And Is Short (MDY); Finerman's Firm Owns (MSFT) Options; Finerman's Firm Owns S&P 500 Puts; Finerman's Firm Owns Russell 2000 Puts