Stocks On The Move: H&R Block, Clear Channel...
Following are the day’s biggest winners and losers. Find out why shares of H&R Block and Clear Channel popped while Fannie Mae and Nokia dropped.
POPS (stocks that jumped higher)
H&R Block popped 4%. The tax preparer's profit loss narrowed, and the company said it may be close to selling a mortgage-servicing arm. – I’m a seller, says Jeff Macke.
Clear Channel Communications popped 1%. Speculation that the proposed deal by Bain Capital and Thomas H. Lee Partners might actually get done sent shares higher. – I don’t have the stomach for this trade, says Karen Finerman.
Mark Zuckerberg. At 23-years old the Facebook.com founder became the youngest-ever self-made billionaire, according to the Forbes list - where his $1.5 billion net worth placed him at #785 in the magazine's annual billonaire's list.
Sonus Networks popped 5%. This phone-over-the-internet software maker reported profits 16% higher than analyst expectations. – I’m not too fired up, says Pete Najaran.
Eldorado Gold Corp. popped 14%. Shares of the gold miner shot higher after the company announced its Kisladag mine in Western Turkey had re-opened.
Housework. Men have doubled their contribution to housework over the last 40 years, concludes a report released today by the Council on Contemporary Families. This leads to a happier marriage, and more frequent sex, according to the study.
DROPS (stocks that slid lower)
Fannie Mae dropped 11%. Rumors that the government would prop up the mortgage lender turned out to be "absolutely not true," according to a Treasury spokeswoman. – I bought a little Thursday, says Karen Finerman.
Nokia dropped 3%. Word that Apple was enhancing the email features of the iPhone was bad news for competitor Nokia. – I think this stock is a buy, says Pete Najarian.
Southwest dropped 4%. The discount airline may face millions in fines after an FAA investigation revealed that Southwest flew 117 of its planes while they were in violation of mandatory safety checks. – If the market is open sell the airlines, Guy Adami says
Abercrombie & Fitch dropped 7%. The young adult clothing retailer said comps were down 2%. – Tough time for specialty retail, says Jeff Macke.
Prince Alwaleed. Thanks to a 3.6% stake in Citigroup (which is down 58% over the last year) Saudi investor Prince Alwaleed fell six places to #19 on Forbes billionaires list.
Coldwater Creek dropped 20%. The women's clothing store scaled back expansion plans, posted a disappointing sales forecast, and slashed its ad budget. – Stay away, counsels Guy Adami.
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Trader disclosure: On Mar. 6, 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); Najarian Owns (AAPL), (BIIB), (C), (CSCO), (MS), (NOK), (MSFT); Najarian Owns (USB) Puts; Najarian Owns (YHOO) And (YHOO) Calls, (COP) Calls, (IDCC) Calls; Finerman Owns (GS); Finerman's Firm Owns (AAPL), (AEO), (FNM), (GE), (DSW), (MSFT), (PLCE), (SKS), (VCLK), (WMT), (YHOO), (RAI); Finerman's Firm Is Short (IJR), (IYR), (IWM), (MDY), (SPY); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; GE Is The Parent Company Of CNBC; Charles Schwab Is A Sponsor Of "Fast Money"