Stocks on the Move: Zimmer, EMC, Amazon and More
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POPS (stocks that jumped higher)
Zimmer Holdings (ZMH) popped 13%. International sales of artificial hips and joints sent Zimmer’s profit up 13% higher than analysts expected. Najarian: This stock was overly sold-off. Morgan Stanley just gave it an $86 price target.
Sepracor (SEPR) popped 3%. Although the maker of sleeping pill Lunesta said it may restate six years of financial statements, shares rallied back after an initial drop. Najarian: It bought two drugs which could balance out some of its write-offs.
Cardinal Health (CAH) popped 5%. Profits at the health care service provider beat expectations but the company also lowered its full-year guidance. Adami: Purely a relief rally. Buy McKesson (MCK) instead.
Smurfit-Stone Container (SSCC) popped 13%. The maker of corrugated boxes reported profit up 76%. Finerman: Could be a sign of things to come for UPS (UPS) and FedEx (FDX).
Quintana Marine (QMAR) popped 30%. Excel Maritime bought the competing dry-bulk shipper for $2.5 billion. Najarian: The entire transport complex is booming, including shipping.
But for the biggest pop of the day, click here.
DROPS (stocks that slid lower)
EMC (EMC) dropped 6%. Although the data storage company’s own profits beat expectations, revenues at subsidiary VMware (VMW) were disappointing. Adami: Own EMC for a trade.
Clear Channel (CCU) dropped 7%. Credit market turmoil has put the $20-billion private equity buyout of the radio broadcaster in doubt. Finerman: A scary sign for any arbitrager. Stay away.
Amazon (AMZN) dropped 3%. The online retail, already down 20% this year, fell again ahead of its earnings. Najarian: No love for tech so far in 2008. Amazon is still a great merchant.
Disney (DIS) dropped 2%. Citigroup cut the Mouse House to sell from hold, citing weakness in its theme park division. Macke: What gives? Disney said things were strong. It’s still a buy.
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Trader disclosure: On Jan 29, 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 (DIS), (YHOO), (EMC): Najarian Owns (BIIB), (C), (CSCO), (ETFC), (MS), (MSFT), (MCD), (XLF); Najarian Owns (WEN) Calls, (AAPL) Calls, (YHOO) Calls, (EBAY) Calls; Finerman Owns (GS); Finerman's Firm Owns (TSO), (VLO), (WMT), (YHOO), (SUN); Finerman's Firm Is Short (MDY), (IYR), (IJR), (SPY), (CLWR), Finerman's Firm Is Short (LEH) And Owns (LEH) Puts
