Following are the day's biggest winners and losers. Find out why shares of Louisiana Pacific and Copa Holdings popped while Safeway and Lehman dropped.
POPS (stocks that jumped higher)
Louisiana Pacific (LPX) popped 3%. Jon Najarian spotted some heavy call-buying in this building materials firm. Adami: A homebuilder nightmare. Stay away.
The GM Building. Located along New York's Central Park, the landmark is likely to be sold for $3 billion – the highest amount ever paid for a single building in U.S. history. The auto company no longer owns the 50-story officer tower but one of its current tenants is Carl Icahn. Will he get evicted? Karen Finerman said she would share her office with Icahn if the new tenants kick him out. She’s got a park view too, Carl!
Copa Holdings (CPA) popped 6%. The operator of Panama's Copa Airlines said fourth-quarter profit exceeded expectations. Seymour: The company beat earnings amid soaring jet fuel prices. That has to spell good news for this stock, which gives exposure to commercial and cargo in Latin America.
DROPS (stocks that slid lower)
Safeway (SWY) popped 7%. Same-store sales at the grocery chain were up only 2.7% compared to 3.5% a year ago. Macke: The company said it would fire employees to keep up margins. That’s not good enough for this market.
Lehman Brothers (LEH) dropped 3%. Brokers broke down yet again on Thursday. Finerman: Wouldn’t be surprised to see more write-downs in the future.
ICICI Bank (IBN) dropped 3%. The Indian bank has come under pressure from the country's finance minister to reduce interest rates in an effort to drive economic growth. Seymour: The Indian state bank is issuing new bonds that will cut into the margins of ICICI and others.
Lululemon (LULU) dropped 11%. The yoga-wear retailer plummeted one day after the COO's departure. Finerman: The COO leaving is bad news and the stock has a very rich multiple.
General Motors (GM) dropped 5%. The automaker dropped on economic worries, even as its flagship building popped in the real estate market. Adami: “Extraordinarily wary” of GM. Buy parts-maker BorgWarner (BWA) instead.
Novatel Wireless (NVTL) dropped 23%. The wireless modem card maker lost a fifth of its value. Macke: Sprint – the “lunatic” of the wireless industry – is undercutting Novatel by practically giving away modem cards.
Apollo Group (APOL) dropped 9%. The education company that runs University of Phoenix fell after another higher learning company, Career Education Corp., said that profit dropped by more than 50%. Adami: Student loan concerns are hurting everyone in this space but APOL is still better than the rest.
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Trader disclosure: On Feb.21, 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); Seymour Owns (AAPL), (CSCO), (F), (MSFT), (S), (TSO), (SBUX), Seygem Asset Management Owns (CCJ), (TIE), (GAF) Seygem Asset Management Is Short (EEM); Finerman’s Firm is Short (IYR), (IJR), (SPY), (MDY), (IWM), (LEH) and Owns (LEH) Puts; Finerman’s Firm Owns (VLO), (TSO), (MSFT), (KSS), (JCP), (AAPL), (TSO), (VLO), (YHOO), (WMT), (MO), (AEO); Finerman Owns (GS); Dennis Gartman Owns (CIM), (COIN), (PRB), (SID), (PAL), (UNG), Gold, (UUP), (SWC), (HOV), (GWR), (GMO); Gartman is Short (SDS), (COH), (HOG), (RTH), (MMM), (GM), (DCR), (AAPL), (DRYS), CIBC; Gartman Index Owns Gold, the EUR, the Canadian Dollar, Sugar