Stocks On The Move: Barr Pharma, Amazon...
Following are the day’s biggest winners and losers. Find out why shares of Barr Pharmaceuticals and Amazon popped while E*Trade and Nokia dropped.
POPS (stocks that jumped higher)
Barr Pharmaceuticals popped 8%. Bayer's patent on birth control drug Yasmin expired Tuesday, giving Barr the green light to begin producing a generic version. – I thinks there will be some sellers, says Pete Najarian.
Amazon.com popped 5%. The online retailer's CFO reaffirmed '08 guidance, and said that the company's electronic reader "Kindle" was still selling out. – I’d love to be a buyer with a 4-handle, says Jeff Macke.
"Green" Lamborghini. The uber-rich can now do their part to help the environment by buying a new low-emission Lamborghini Gallardo, which emits 18% less carbon dioxide than previous Gallardos. Unveiled at the Geneva Auto Show, the new model, costs $222,100.
Homebuilder ETF popped 3%. Bernanke said more needs to be done to help troubled homeowners. – Karen Finerman says, “It can’t go down everyday, can it?”
Hexapus. British marine biologists have discovered the first-ever Hexapus -- that is, an octopus with only six legs. Nicknamed "Harry," the cephalopod's two missing limbs are the result of a birth defect, not an accident. The researchers discovered him off the coast of Wales in a lobster trap.
DROPS (stocks that slid lower)
Thornburg Mortgage dropped 18%. Thornburg fell again Tuesday after a downgrade from Citigroup. – There seems to be a problem, says Guy Adami.
E*Trade dropped 8%. A Merrill Lynch analyst said the online broker made a poor choice in electing former JPMorgan Chase Vice Chairman Donald Layton to the CEO post. – I’d move along, says Karen Finerman.
Nokia dropped 4%. The world's largest maker of mobile phones was downgraded to "underperform'' from "outperform'' at Exane BNP Paribas. – I like it at this level, says Pete Najarian.
Monsanto dropped 6%. Prices for soybeans, wheat, and corn fell from record highs. – Buy on a dip, counsels Guy Adami.
Jackson Hewitt dropped 33%. The tax preparer missed estimates for profit and sales forecast. – It’s a low margin business, says Jeff Macke. Move along.
Brett Favre. The 38-year old Green Bay Packers quarterback shocked the sports world Tuesday by announcing his retirement, after 17 seasons. He holds several NFL records, including most career touchdown passes. He is considered by some to be the greatest QB of all time.
Clearwire Corp. dropped 3%. The WiMax networker posted a wider loss as revenue failed to keep pace with costs. – I think it’s a buy on a dip, says Pete Najarian.
ConocoPhillips dropped 2%. Higher costs for production and processing led to a Lehman downgrade. – I think the stock has room lower, says Guy Adami.
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Trader disclosure: On Mar. 4, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Finerman Owns (GS); Finerman's Firm And Finerman Own (HD); Finerman's Firm Owns (AAPL), (GE), (MSFT), (ODP), (WMT), (YHOO), (NYX); Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM), (LEH); Seymour Owns (AAPL), (INTC), (MER), (SBUX); GE Is The Parent Company Of CNBC; NBC Universal Is The Parent Company Of CNBC; Charles Schwab Is A Sponsor Of "Fast Money"