Following are the day’s biggest winners and losers. Find out why shares of Circuit City (CC) and Websense (WBSN) popped while KB Homes (KBH) and Brinker International (EAT) dropped.
POPS (stocks that jumped higher)
Circuit City (CC) popped 2%. The electronics retailer said December sales dropped almost 9%; it also reiterated its fourth-quarter holiday loss, yet shares mysteriously recovered from an early loss. – Not interested, says Jeff Macke.
Websense (WBSN) popped 9%. The software company probably used to track your online behavior said an acquisition sent 4th quarter sales beyond its forecast. – Don’t look for the pop to last, says Pete Najarian.
Great Atlantic and Pacific Tea Company (GAP) popped 2%. The owner of the A&P supermarket chain reported higher third-quarter earnings, and noted positive progress on its integration of Pathmark Stores.
Crocs (CROX) popped 7%. The rubber clog maker was tossed and turned this week: down 14% Monday on slow-growth concerns, and bouncing back Tuesday. – I think it’s just rebounding from being overdone, says Karen Finerman.
Lear (LEA) popped 2%. Merrill Lynch upgraded the car-parts maker from "sell" to "neutral."
DaVita (DVA) popped 4%. The dialysis provider, (its CEO was on Fast Money Monday night), climbed after a Stanford Group said pricing pressure fears are overdone.
Pharmasset (VRUS) popped 33%. The biotech, which has been working with Roche on a Hepatitis-C drug, soared after the treatment was found to be safe in testing.
DROPS (stocks that slid lower)
KB Homes (KBH) dropped 9%. Nearly a billion dollars worth of write-downs and tax expenses led this homebuilder to a wider-than-expected fourth quarter loss. – Nothing good here, says Guy Adami.
Brinker International (EAT) dropped 12%. The owner of Chili's and Romano's Macaroni Grill restaurants slipped after it posted quarterly profits below analyst expectations. The company blamed soft consumer spending. – I see a lot of trouble in this sector, says Karen Finerman.
Greenbrier (GBX) dropped 12%. The nation's biggest maker of railroad flatcars forecast full-year earnings below what analysts had expected. – This stock doesn’t do it for me, says Guy Adami.
Jerry Fitch. This Mississippi businessman must pay more than $750,000 in damages to the man whose wife he wooed away, after the US Supreme Court on Monday declined to hear an appeal in the case. The woman's ex-husband -- a plumber -- decided to sue the wealthy realtor under an old Mississippi state law permitting damages for `the loss of sexual relations' !!!
UAL Corp. (UAUA) dropped 16%. An industry analyst said that labor troubles that led to pilot "sick-outs" led to major delays in December, which will hurt profits. – Stay away, says Jeff Macke.
Intuitive Surgical (ISRG) dropped 9%. A Wachovia analyst predicted the credit market would force hospitals to cut-back on purchases of sophisticated equipment like Intuitive's da Vinci robotic-surgery system.
The Dutch. According to the Central Bureau for Statistics - The Dutch, often considered the world's tallest people, appear to have stopped growing. Average heights have reached a plateau since 2001. Compare that to the growth between 1980 and 2000, when the average height for a Dutch man increased by 1 inch over two decades. The averaged has stabilized at 5'11" for men, 5'6" for women.
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Trader disclosure: On Jan 8, 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 (YHOO), (SWY), (INTC); Najarian Owns (BIIB), (MCD), (MSFT); Najarian Owns (AAPL) Options, (CFC) Options, (VLO) Options, (YHOO) Options; Najarian Is Short (WM) Through Options; Finerman's Firm Owns (CROX), (DVA), (GS), (YHOO), (DSW); Finerman's Firm Is Short (IJR), (IYR), (IWM), (SPY), (SPG), (TCO); Finerman's Firm Owns Russell 2000 Puts; Finerman's Firm Owns S&P 500 Puts; Finerman's Firm Owns (MDY) Puts And Is Short (MDY); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Finerman's Firm Owns (MSFT) Options