Pops & Drops: Colgate, Sony...
Following are the day’s biggest winners and losers. Find out why shares of Colgate-Palmolive and Masco popped while Sony and Fresh Del Monte dropped.
POPS (stocks that jumped higher)
Colgate-Palmolive (CL) popped 8%. The world's largest toothpaste maker announced strong second quarter profit and higher prices. – That’s impressive, says Karen Finerman, and I don’t get excited often.
Masco (MAS) popped 8%. The Delta faucets maker beat earnings expectations and reaffirmed full year guidance. – I think it was a classic relief rally and I’d sell any more upside, says Guy Adami.
Energy Conversion Devices (ENER) popped 5%. Credit Suisse initiated coverage and rated this stock as 'Outperform.' – I like this stock, says Pete Najarian.
Lennar (LEN) popped 11%. A report suggested potential for stronger new-home sales. – I think we have to wait and see, says Karen Finerman.
Under Armour (UA) popped 7%. The athletic apparel maker beat the Street due in part to the launch of their performance training footwear. – They’re sure making strides, says Pete Najarian with a wink and a smile.
Willie Bean Roscoe P. Coltrane. A 7- year old yellow lab is running for mayor of Fairhope, Alabama. Willie Bean Roscoe P. Coltrane has been entered into the race for mayor by his owner, and if elected, Willie will be the third canine to hold this position.
DROPS (stocks that slid lower)
Sony (SNE) dropped 6%. The electronics maker said profits will fall more than previously forecast. – Go away CEO Howard Stringer, exclaims Jeff Macke.
Fresh Del Monte (FDP) dropped 14%. The fruit and vegetable producer released a disappointing profit report. – They keep missing, says a disgusted Jeff Macke.
Manitowoc (MTW) dropped 5%. The diversified U.S. manufacturer dropped despite higher earnings on strong demand for cranes and shipbuilding equipment overseas. – Guy Adami doesn’t know what to say!
Dineequity (DIN) dropped 3%. The IHOP and Applebee's operator slid after its 2nd quarter earnings missed analyst expectations. – Applebee’s is weighing them down, says Karen Finerman.
Rent-A-Center (RCII) dropped 8%. This furniture and appliance rental company missed due to increased costs. – It’s a bad business, says Jeff Macke. I’d short it.
Crane (CR) dropped 4%.The diversified manufacturer of industrial products warned of lower full-year earnings, despite higher second quarter profits.
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Trader disclosure: On July 29, 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 (DIS), (MSFT), (WMT), (COST); Adami Owns (GS), ( C), (NUE), (MSFT), (AGU), (INTC), (BTU); Adami's Wife Works At Schering-Plough; Najarian Owns (TSO); Najarian Owns (WMT) Calls, (XLY) Calls; Najarian Owns (AAPL) Puts and stock; Finerman And Finerman's Firm Owns C; Finerman's Firm Owns (MRK), (GS), (VLO), (TSO), (MSFT), (SUN)