Stocks On The Move: Dupont, Aluminum Corp...
Following are the day’s biggest winners and losers. Find out why shares of Dupont (DD) and Aluminum Corp of China (ACH) popped while Washington Mutual (WM) and Alliant Techsystems (ATK) dropped.
POPS (stocks that jumped higher)
Dupont (DD) popped 5%. The chemical company raised its 2008 forecast, thanks to demand for its agricultural products. – I’m cautious says Guy Adami.
Aluminum Corp of China (ACH) popped 8%. Chinese stocks were off to the races Wednesday. – It’s the largest aluminum company in China, says Tim Seymour.
Mosaic (MOS) popped 1%. What a ride for Mosaic shares. After it said profit increased six-fold, shares popped 5% at the open, dropped 9% by mid afternoon, and then recovered by the market close. – Be careful, says Pete Najarian.
Sony (SNE) popped 6%. Warner Bros. was added to the roster of media companies committing to Sony's Blu-Ray high definition DVD format. – It’s worth watching, says Guy Adami.
V.F. Corporation (VFC) popped 8%. The home to clothing brands like Seven Jeans, North Face, and Reef set higher targets for long-term sales, saying it would hit $11 billion in revenue over 5 years. – Impressive, says Karen Finerman.
Bancolombia (CIB) popped 3%. The Columbian bank rose higher Wednesday on no news.
Glowing Pigs. A few weeks back we introduced you to genetically modified cats that can glow in the dark. This week, we introduce you to glow-in-the-dark pigs.
DROPS (stocks that slid lower)
Washington Mutual (WM) dropped 3%. The nation's largest savings and loan collapsed on further concerns over more write-downs related to the mortgage crisis. – Karen Finerman says, “That’s a pop for them!”
Posh Spice. Victoria "Posh Spice" Beckham topped Mr. Blackwells' infamous "worst dressed list."
Alliant Techsystems (ATK) dropped 4%. The aerospace company lost altitude after announcing it would make its largest acquisition ever: $1.3 billion to purchase MacDonald, Dettwiler and Associates, which makes satellites. – Too much debt on their balance sheet, says Tim Seymour.
Starbucks (SBUX) dropped 2%. Shares of the java giant came down from the caffeine high they got earlier this week, when founder Howard Schultz announced he was re-taking the CEO post. – I prefer McDonald’s says Pete Najarian.
Paper. The White House budget, which comes in at around 2,000 pages, is going paperless this year. The Office of Management and Budget estimates that by going paperless the federal government will save more than $1 million over five years, more than 20 tons of paper and about 480 trees.
Saks (SKS) dropped 1%. The luxury department store fell ahead of Thursday’s December same store sales data. – I like SKS as a long term play, but it’s volatile says Karen Finerman.
General Motors (GM) dropped 2%. It looks like GM's new hydro-electric Cadillac won't help shares, at least according to Goldman Sachs which cut the automaker's price target to $25 from $31. – Guy Adami is speechless.
Amazon.com (AMZN) dropped 3%. One of the best performers of 2007 continues to suffer in the new year. – Pete Najarian says it’s profit taking.
Wimm-Bill-Dann Foods (WBD) dropped 4%. This Eastern European fruit and juice producer really got squeezed Wednesday.
Trader disclosure: On Jan 9, 2008, 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 (C), (MSFT), (MCD); Najarian Owns (AIG) Options, (CFC) Options, (VLO) Options, (WM) Options, (YHOO) Options; Finerman Owns (GS); Finerman's Firm Owns (DSW), (PLCE), (SKS), (WMT), (YHOO), (AEO),(CROX); Finerman's Firm Owns (MSFT) Options; Finerman's Firm Is Short (IYR), (IJR), (IWM), (SPY), (SPG), (TCO); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Finerman's Firm Owns S&P 500 Puts; Finerman's Firm Owns Russell 2000 Puts; Finerman's Firm Owns (MDY) Puts And Is Short (MDY); Seymour Owns (AA), (AAPL), (CFC), (ETFC), (INTC), (MBI), (MER), (MSFT), (SBUX), (YHOO), (CSCO), (TIE); Seygem Asset Management Owns (EWZ), (EWT); Seygem Asset Management Is Short (PBR)