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Pops & Drops: Charles Schwab, UPS...

Following are the day’s biggest winners and losers. Find out why shares of Charles Schwab and UPS popped while Chicago Bridge & Iron and Gannett dropped.

POPS (stocks that jumped higher)

Charles Schwab (SCHW) popped 14%. The nation's largest discount brokerage reported earnings that beat Street estimates. – It was a good day, says Karen Finerman.

United Parcel Services (UPS) popped 5%. The international shipper moved in the opposite direction of oil. – I think Fedex is the better play.

Target (TGT) popped 6%. Bloomberg reported activist investor Bill Ackman added at least $100 million TGT shares to his hedge fund. – I’d use it as a selling opportunity, says Jeff Macke.

CSX Corp. (CSX) popped 6%. The railroad reported earnings that beat estimates and provided positive guidance. – I like their pricing power, says Pete Najarian.

Options. A new record was set yesterday in options trading when 25,264,883 options contracts exchanged hands in a single day, smashing the record set on August 16 of last year.

US Bancorp (USB) popped 18%. Optimistic news from Wells Fargo single-handedly pulled up this stock as well as the whole sector. – What a difference a day makes, says Karen Finerman. I like this stock.

Amazon (AMZN) popped 7%. The online retailer traded higher ahead of earnings next week. – It’s a cocooning play sort of, says Jeff Macke, but it’s still a tough environment for retail.

St. Jude Medical (STJ) popped 7%. We have another earnings story with a happy ending, this time the defibrillator maker beat expectations. – I think everything looks great for them, says Pete Najarian.

Old Dominion Freight Line (ODFL) popped 24%. The regional trucker announced it will beat second quarter EPS estimates and raised its annual EPS forecast.

Pier 1 Imports (PIR) popped 21%. A Wedbush Morgan note said customers were making small impulse buys at its stores and analysts saw 'medium traffic' during Pier 1's semiannual sale.

Altera (ALTR) popped 12%. The chipmaker beat and Canaccord Adams analyst Bobby Burleson raised his price target for the stock to $20 from $18.

DROPS (stocks that slid lower)

Chicago Bridge & Iron Co. (CBI) dropped 16%. JP Morgan downgraded the company to 'Neutral' from 'Overweight' on concerns the bank could take further charges related to its natural gas projects in the U.K. – I’d buy this stock with a stop out below $30, says Guy Adami.

Gannett Co. (GCI) dropped 5%. The largest US newspaper publisher dropped to its lowest level since 1985, partly due to a sharp decline in ad sales at USA Today. – I can’t believe how low this stock is, says Karen Finerman.





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Trader disclosure: On July 16, 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 (GS), (MSFT), (USO), (WMT); Adami Owns (C), (AGU), (GS), (INTC), (NUE), (BTU), (MSFT); Najarian Owns (AAPL), (NOK), (TSO), (XLF), (GS); Najarian Owns (ANR) Puts; Najarian Owns (CSCO) Calls, (PRU) Calls, (SLB) Calls, (UYG) Calls, (YHOO) Calls; (WLT) Calls; Finerman Owns (GS); Finerman's Firm Owns (MSFT), (NOK), (SUN), (TSO), (TWX), (VLO), (AXP), (M); Finerman's Firm Owns (TGT) Calls; Finerman's Firm And Finerman Own (C) And (C) Leaps; Finerman's Firm Is Long SPX Index Puts; Finerman's Firm Is Short (IJR), (MDY), (SPY), (IWM)

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