Following are the day’s biggest winners and losers. Find out why shares of Fluor Corp and Halliburton popped while Netflix and XM Satellite Radio dropped.
POPS (stocks that jumped higher)
Fluor Corp. (FLR) popped 8%. Demand from oil and gas firms led this engineering firm to raise its '08 forecast. – It’s a buy on any dip, says Guy Adami.
Halliburton (HAL) popped 4%. An analyst with Simmons and Co. said that Halliburton was among a handful of oil service companies to win contracts for work on Saudi Aramco's offshore Manifa oil field. – I think this stock is cheap, says Tim Seymour.
Stony Brook University. The University in upstate New York has just received a $60 Million donation from the institution's former Math Department Chairman, who just happens to be Jim Simons, one of the most successful hedge fund managers in history and founder of Renaissance Technologies. It is the largest donation Stony Brook has ever received and the largest gift given to any public university in the state.
Hospira (HSP) popped 8%. An acquisition helped the hospital-drug firm to boost profits 60% for the quarter. – I like their forecast, says Pete Najarian.
Salesforce.com (CRM) popped 17%. The maker of "customer relationship management" (CRM) software beat profit and sales estimates. – I wouldn’t race into this stock, says Guy Adami.
Del Monte Foods (DLM) popped 11%. The maker of StarKist tuna, and College Inn soups raised its sales forecast. – Check out what Jeff Macke has to say about food companies in “Brother Can You Spare A Trade.”
Trina Solar (TSL) popped 4%. After widespread downgrades of the solar sector this week, Trina shined once again.
Iran. In a moment of profound hubris, President Mahmoud Ahmadinejad declared in a speech that Iran was, in fact, "The number one power in the world."
DROPS (stocks that slid lower)
R.H. Donnelly Corp. (RHD) dropped 48%. The maker of Yellow Pages plunged after it slashed its forecast and terminated plans for a dividend, blaming slowing ad revenue.
Netflix (NFLX) dropped 3%. The DVD rental service popped at the open after posting higher subscriber numbers Wednesday, but then gave it all back and then some by the close. – I think it’s a buy under $30, says Jeff Macke.
Mylan Labs (MYL) dropped 9%. Acquisition costs sent the nation's largest maker of generic drugs to a quarterly loss; they also cut their profit forecast for the next three years. – The forecast is a problem, says Pete Najarian.
XM Satellite Radio (XMSR) dropped 3%. Despite boosting subscribers and narrowing its 4th quarter loss, investors sold shares of XM. – I like SIRI if the merger gets pulled off, says Jeff Macke.
JPMorgan Chase (JPM) dropped 4%. Writedown concerns led Goldman and Merrill to cut their profit expectations for JPM. – Be calm and wait to get into this name, says Pete Najarian.
AbitibiBowater (ABH) dropped 12%. The print newspaper producer reported a $250 million loss for the quarter, and warned it might not be able to refinance debt next quarter.
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Trader disclosure: On Feb.28, 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); Seymour Owns (AAPL), (BX), (DELL), (INTC), (MER), (MSFT), (TMA), (TSL), (SHLD), (SBUX); Seygem Asset Management Is Short (PBR); Seymour Is Short (S); Pete Najarian Owns (AAPL), (BIIB), (C), (MS), (MSFT), (NVS), (XLF), (CSCO), (BKC), (MCD); Pete Najarian Owns (XTO) Calls, (IVN) Calls; Pete Najarian Owns (YHOO) And (YHOO) Calls; Jon Najarian Owns (FRE), (FNM), (GS)