Following are the day’s biggest winners and losers. Find out why shares of US Bancorp (USB) and Coach (COH) popped while Motorola (MOT) and PetSmart (PETM) dropped.
POPS (stocks that jumped higher)
US Bancorp (USB) popped 7%. USB, only one of many financials that rose higher Wednesday on word that New York's insurance regulators are leading the effort to raise capital for the beleaguered bond insurers. – This stock will probably keep popping, says Guy Adami.
Coach (COH) popped 6%. The handbag maker beat profit estimates and showed a 21% jump in sales for the quarter, which included Christmas. – Part of the retail melt-up, says Karen Finerman.
Brinker International (EAT) popped 22%. The restaurant company behind Chili's and Romano's Macaroni Grill exploded higher after a sale of 76 Chili's locations to a franchisee supported profits that would have otherwise been hurt by slowing consumer spending and increasing costs. – These stocks are way oversold, says Jeff Macke.
Small Cap ETF (IWM) popped 3%. It was a tremendous move north for the battered Russell 2000. – You might see some uptick over the next few days, says Guy Adami.
AT&T (T) popped 2%. The phone company overcame news of Apple's disappointing forecast to advance ahead of earnings Thursday. – I think the iPhone will do better, says Pete Najarian.
Starbucks (SBUX) popped 8%. The company, which popularized $4 lattes across America dropped prices of small cups of coffee to $1 in Seattle, where it is testing this new pricing structure, and "free refills" too.
Ethan Allen Interiors (ETH) popped 26%. The home furnishing store beat profit estimates.
DROPS (stocks that slid lower)
Motorola (MOT) dropped 19%. The mobile phone maker was slaughtered after it lost market share to Apple and Samsung sending profits down 84% last quarter. The company also forecast an unexpected loss in the 1st quarter. – Stay away, says Pete Najarian.
Tom Brady. Just two weeks away from facing the New York Giants in the Super Bowl, New England Patriots Quarterback Tom Brady is being called a "traitor" by Boston newspapers, after being photographed wearing a Yankees hat while holding hands with girlfriend Gisele in New York's West Village.
PetSmart (PETM) dropped 1%. Weak sales forced this pet store chain to sharply lower its profit forecast for the 4th quarter, to 61 cents from 74 cents. – Stay out of this stock, says Jeff Macke.
Flowserve (FLS) dropped 1%. The maker of pumps and valves was down on the day for no clear reason. – I think it's a buy, says Karen Finerman.
Praxair (PX) dropped 3%. Although it beat analyst expectations for profit and revenue, shares of this industrial gas producer still deflated.
First Cash Financial Services (FCFS) dropped 34%. Jefferies cut this pawn shop operator to "hold" from "buy."
Ashtrays. Once a standard item in nearly every car in America, ashtrays and electric lighters could scarcely be found in most vehicles on display at the Detroit auto show this year. Experts say a combination of pressure from anti-smoking groups and demand for more cup holders have edged out the once ubiquitous ashtray. You can still get an ashtray if you like, by buying a "smokers group" option that costs between $15 and $100.
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Trader disclosure: On Jan 23, 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); Najarian Owns (BIIB), (C), (CSCO), (EBAY), (MCD), (MSFT); Najarian Owns (AAPL) Calls, (COP) Calls, (NSC) Calls, (WM) Calls, (YHOO) Calls, (YRCW) Calls; Finerman Owns (GS), (M); Finerman's Firm Owns (MO), (ODP), (TSO), (YHOO), (AEO), (CROX), (HD), (WMT); Finerman's Firm And Finerman Own (FLS); Finerman's Firm Is Short (SPY), (MDY), (IJR), (IWM), (SPG); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts