Imclone (IMCL) popped 3%. Steve Cohen of SAC Capital Advisors increased his stake of the Carl Icahn-controlled biotech to 4.9%. – Not sure, says Jeff Macke.
Tesoro (TSO) popped 5%. Tesoro announced that it had resumed production at a Hawaii refinery that caught fire over the weekend. – I think the next 6 weeks will bring another 15%, says Tim Seymour.
Steven Madden (SHOO) popped 9%. Although sales were off 10% at the footwear maker, profits were better than expected and the company said it will offer to buy up to 2.6 million shares as part of a "Dutch Auction" tender offer for up to $52 million. – Interesting, says Karen Finerman.
Office Max (OMX) popped 5%. The office supply chain lowered costs, leading to profits that were 25% higher than Wall Street's expectations. – If the market is open sell this stock, says Jeff Macke.
Holly Corp (HOC) popped 12%. The refiner posted higher than expected profits on stronger sales of refined products. – Take a little off the table, says Guy Adami.
Barclays (BCS) popped 10%. Although profits were off 21%, reassurances that the UK bank would report no further substantial losses sent shares higher. – All the UK banks got a lift Tuesday, says Karen Finerman.
Corinthian Colleges (COCO) popped 14%. The Washington Post Company, which owns the Kaplan test prep service, bought an 8% stake in Corinthian. – It could be a $9 stock, says Guy Adami.
Corporate Express (CXP) popped 39%. Staples made a $2 billion dollar bid for Amsterdam-based Corporate Express, the world's largest distributor of office supplies. CXP rejected the offer, saying it undervalued the company. – This was a big day for this company, says Jeff Macke.
Harmony Gold Mining (HMY) popped 10%. The South African miner surged as gold climbed 3%. – Looks good, says Tim Seymour.
DROPS (stocks that slid lower)
Clear Channel Communications (CCU) dropped 4%. The operator of radio stations and billboard advertising sued Providence Equity Partners, in an attempt to force the PE firm into completing its $1.2 billion purchase of 56 television stations. – I don’t like litigation, says Guy Adami, but it could be interesting at $30.
HD DVD. The format war is over! HD DVD is going the way of Beta Max, 8-Track, and more after the Toshiba-backed format lost ground to Blu-Ray, backed by Sony. After studios like Warner Bros. and retailers Wal-Mart and Best Buy committed to Blu-Ray, it was all over for HD-DVD. Toshiba said it would cease production of all HD DVD players and recorders, effective immediately. Shares of Sony were up 5% on the day.
SunTech Power (STP) dropped 5%. Curiously, SunTech and other solar names fell across the board even as oil crossed $100. – They report Wednesday, says Tim Seymour. It’s worth watching.
Onyx Pharmaceuticals (ONXX) dropped 26%. Onyx and Bayer stopped testing lung cancer drug Nexavar after early studies showed it didn't extend life further than standard treatments. – I think it could drop again Wednesday, says Guy Adami.
Pastor Mac Hammond. The Pastor of the Living Word Christian Center - a congregation that preaches the "Prosperity Gospel" - has been forced to put his private jet up for sale. The recession, said a church spokesman, has left the Church $70,000 short of its weekly budget in recent months and the proceeds from the Cessna 650 business jet would be put back into the ministry. "Prosperity Gospel" churches are based on the notion that success in business or personal life is evidence of God's love.
Got something to say? Send us an e-mail at email@example.com and your comment might be posted on the Rapid Recap! Prefer to keep it between us? You can still send questions and comments to firstname.lastname@example.org.
Trader disclosure: On Feb.19, 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), (INTC); Finerman Owns (GS); Finerman's Firm And Finerman Own (CROX), (KALU); Finerman's Firm Owns (MSFT), (TSO), (VLO), (WMT), (YHOO), (AAPL); Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM),(COF); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Seymour Owns (INTC), (MER),(MSFT), (BLK), (GOOG), (AAPL); Seygem Asset Management Owns (CCJ), (TIE), (TSO), (EEM), (GFI) (HMY), (FMX), (FMCN); Seygem Assset Management Owns Shares Of Uranium One