Pops & Drops: U.S. Steel, Thornburg Mortgage...
Following are the day’s biggest winners and losers. Find out why shares of U.S. Steel and Thornburg Mortgage popped while UnitedHealth and Dick's Sporting Goods dropped.
POPS (stocks that jumped higher)
Thornburg Mortgage popped 119%. After increasing its 2007 write-downs, the mortgage company said it was in talks with its lenders to form an agreement to meet margin calls. – And only down 93% on the year, says Tim Seymour sarcastically.
U.S. Steel popped 8%. The stock enjoyed a recovery from this week's sharp selloff in the materials names. I like this stock, says Guy Adami.
Vornado Realty Trust popped 9%. The real estate company was raised to "Buy" from "Neutral" by Goldman Sachs. – Seems fair, says Karen Finerman.
Istanbul Real Estate. Returns from Istanbul real estate investments are likely to surpass Paris and London, as growth from emerging markets push up property values, according to a new survey by the Urban Land Institute and PriceWaterhouseCoopers.
Inter Parfums popped 21%. This cosmetics company, which makes perfumes for Burberry and Banana Republic, announced a better than expected profit forecast for '08. – Love an upside surprise, says Karen Finerman.
India Fund popped 16%. The Fed's liquidity move reached around the world, and helped India's Sensex Index make a strong rebound. – I think it was mostly short covering, explains Tim Seymour.
Potash popped 9%. A UBS analyst raised his price target for the Canadian fertilizer firm to $211 from $175. – Buy the dip, counsels Guy Adami.
JA Solar Holdings popped 18%. The Chinese manufacturer of solar cells popped ahead of earnings Wednesday. – Interesting, says Pete Najarian.
North American Palladium popped 10%. A surge in gold lifted prices of other precious metals, such as platinum and palladium. – Be careful of this stock, counsels Tim Seymour. Many have long term contracts so the spot price of the metal doesn’t help them.
Lululemon popped 20%. Credit Suisse raised the yoga-wear company to "outperform'' from "neutral''.
March Madness Vasectomies. The Oregon Urology Institute sees the hours men will spend watching the NCAA Tournament as a perfect opportunity to recover from a vasectomy. According to the Associated Press, the clinic is airing a radio ad with the following copy: "Get your vasectomy at Oregon Urology Institute the day before the tournament starts. It's snip city." They're even offering free sports magazines, pizza, and a bag of frozen peas to ease the sensitive spot.
DROPS (stocks that slid lower)
Amgen dropped during regular trading but then popped 1% after hours. The stock fell sharply at the open after the FDA said the biotech's anemia drugs were linked to the spread of tumors for patients suffering from certain cancers. But the news couldn't keep shares down for long and Amgen rallied to close nearly flat. – Wait and see, says Pete Najarian.
UnitedHealth and Humana are both down more than 15%. Insurer WellPoint's slashed forecast pulled down shares of health care stocks across the board. – Watch HUM on Wednesday, says Pete Najarian.
Dick's Sporting Goods dropped 1%. On a day like Tuesday, 1% was a drop: The retailer said comps for 2008 would be flat. – I’ll be listening to what they have to say at a conference Wednesday, says Guy Adami.
Got something to say? Send us an e-mail at firstname.lastname@example.org and your comment might be posted on the Rapid Recap! Prefer to keep it between us? You can still send questions and comments to email@example.com.
Trader disclosure: On Mar.11, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Pete Najarian Owns (AAPL), (AMAT), (BIIB), (C), (CSCO), (MS), (MSFT), (NOK), (XLF), (YHOO), (CPHD); Pete Najarian Owns (AA) Calls, (COP) Calls; Pete Najarian Owns (FNM) Puts; Finerman Owns (GS); Finerman's Firm Owns (AAPL), (AEO), (FNM), (GE), (JCP), (MO), (MSFT), (TSO), (VLO), (WMT), (YHOO); Finerman's Firm Is Short (IYR), (IJR), (MDY), (IWM); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Seymour Owns (CFC), (CSCO), (INTC), (MBI), (MSFT), (S), (TMA), (TSO), (TSM); Seygem Asset Management Owns (VIP); GE Is The Parent Company Of CNBC