Stocks On The Move: AutoZone, Del Monte...
Following are the day’s biggest winners and losers. Find out why shares of AutoZone and Del Monte popped while K-Swiss and Office Depot dropped.
POPS (stocks that jumped higher)
AutoZone (AZO) popped 6%. The nation's largest auto-parts retailer said shrinking supply costs sent profits up 3.6%. – Margins were huge, says Pete Najarian.
Fresh Del Monte Produce (FDP) popped 5%. "Agflation" helped Fresh Del Monte swing to a profit, as pineapple, melon and banana prices soared. – Get long the food players, says Jeff Macke.
CBRL Group (CBRL) popped 11%. The company that runs the Cracker Barrel and Logan's Roadhouse restaurants posted a pop in profits, saying traffic was strong amid a consumer slowdown. – Go figure, says Jeff Macke.
Jamie Lynn Spears. The 16-year old sister of pop star Britney Spears, who recently announced that she is pregnant, passed her GED, reports People.com. The star of Nickelodeon's "Zoey 101" scored well on the reading comprehension portion of the high school equivalency exam, and is looking forward to college.
Rite Aid (RAD) popped 7%. JP Morgan upgraded the pharmacy chain, citing an "uptick in flu trends." – I like their CEO, says Guy Adami.
Domino's Pizza (DPZ) popped 6%. Although Domino's profits were hit hard by higher costs and declining consumer spending, investors bought up shares of hard-hit restaurant stocks. – The stock's up despite the high cost of cheese, notes Karen Finerman.
Blackstone (BX) popped 7%. The private equity firm-gone-public rallied for no clear reason, Tuesday. – Nothing to see here, says Jeff Macke.
DROPS (stocks that slid lower)
K-Swiss (KSWS) dropped 9%. The California-based sneaker company's 2008 forecast was below estimates. – These were some really bad numbers, says Karen Finerman.
Foster Wheeler (FWLT) dropped 15%. The engineering firm missed fourth quarter estimates. – I want to hear what the CEO has to say about it, Guy Adami exclaims.
Quicksilver Resources (KWK) dropped 5%. The nat gas firm reported a more than 10-fold increase in profits, but it wasn't enough to impress the Street. – This could be a buying opportunity, says Pete Najarian.
Office Depot (ODP) dropped 6%. The world's second largest office retailer said slowing North American spending reduced profits more than they expected. – Earnings were awful, says Karen Finerman.
USEC Inc. (USU) dropped 26%. Higher uranium output from Australia and Kazakhstan sent down the spot price of the nuclear fuel. – Could be an opportunity, says Pete Najarian.
Ceradyne (CRDN) dropped 24%. The maker of body armor lowered its '08 sales and profit forecast, sending shares on their biggest drop since the 1980s. – This stock could be a buy on the dip, says Guy Adami
Starbucks. We can't get our caffeine fix!. Approximately 7100 stores closed from 5:30pm until 9pm ET to train baristas! Dunkin donuts offered a special during the closing.
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Trader disclosure: On Feb.26, 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 (BIIB), (NOK), (C), (CSCO), (MCD), (MS), (MSFT), (XLF), (XTO) Calls, (YHOO) and (YHOO) Calls; Macke Owns (INTC), (KSS), (MSFT), (ODP), (TSO), (WMT), (DIS), (YHOO); Finerman’s Firm Is Short (IYR), (IJR), (IWM), (MDY), (SPY), Finerman’s Firm Owns (DVA),(AAPL), Finerman’s Firm and Finerman Own (FLS), (HD), Finerman’s Firm Is Short (LEH) and Owns (LEH) Puts
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