Following are the day’s biggest winners and losers. Find out why shares of Tyco and Research In Motion popped while Unilever and Akamai dropped.
POPS (stocks that jumped higher)
Tyco (TYC) popped 5%. The industrial conglomerate must be doing something right; their operating income increased. – They seem to be hitting on all cylinders.
International Paper Company (IP) popped 14%. The world’s largest maker of office paper beat estimates due to strong overseas investments and higher prices. – I think the stock has room up to $30, says Guy Adami.
Research In Motion (RIMM) popped 3%. Investors think the upcoming 'Bold' smartphone could help the company win greater market share. – It’s certainly the better choice for people with big fingers, says Jeff Macke.
Victoria's Secret. Queen Victoria that is. A pair of the monarch’s bloomers were auctioned off for $9,000. The garments, which have a size 50 inch waist, are monogrammed and have survived since the 1800’s.
Wyndham (WYN) popped 3%. The owner of Ramada and Super 8 Hotels enjoyed strong earnings from their international properties as well as a tailwind for currency repatriation. – It’s a bit of a surprise, says Karen Finerman.
Schering-Plough (SGP) popped 5%. Merrill analysts upgraded the stock to a “Buy” on the premise that two of its blockbuster drugs could be approved this year. – I think this stock looks interesting, says Tim Seymour.
Symantec (SYMC) popped 7%. The world’s largest maker of security software announced Q2 earnings almost doubled on international sales growth. – Very good, says Karen Finerman.
DROPS (stocks that slid lower)
Unilever (UL) dropped 9%. The Dove soap and Ben & Jerry’s maker reported losses due to a weak dollar, higher taxes, and restructuring costs. – They’re sacrificing margins for market share, says Tim Seymour.
Eastman Kodak (EK) dropped 7%. The photography company said its grappling with rising costs and slowing demand. – No one is taking photos anymore, says Guy Adami.
Akamai (AKAM) dropped 25%. The largest software and web content supplier cut its annual profit forecast on slowing sales and a weak economy. – Not so good, says Jeff Macke.
Green Mountain Coffee Roasters (GMCR) dropped 6%. The specialty coffee company missed on revenues but beat on earnings. – The numbers don’t look too good, says Tim Seymour.
Parker Hannifin (PH) dropped 9%. The world’s largest maker of hydraulic equipment dropped as it's 2009 outlook fell below analyst expectations. – I like what they had to say about their aerospace sector, says Guy Adami.
Bare Escentuals (BARE) dropped 32%. The cosmetics company lowered its 2008 forecast. – What can I say, says Jeff Macke.
Got something to to say? Send us an e-mail at email@example.com and your comment might be posted on the Rapid Recap! If you'd prefer to make a comment but not have it published on our website send your e-mail to firstname.lastname@example.org.
Trader disclosure: On July 31, 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 (EMC), (DIS), (ATVID), (MSFT); Adami Owns (C), (AGU), (BTU), (GS), (INTC), (MSFT), (NUE); Finerman Owns (GS); Finerman's Firm Owns (MSFT), (SUN), (TSO), (TYC), (VLO), (RIG), (UFS); Finerman's Firm And Finerman Own (C) Leaps; Finerman's Firm Is Short (XLF), (BBT), (IYR), (IJR), (MDY), (SPY), (IWM), (COF); Seymour Owns (AAPL), (CSCO), (F), (MER), (MSFT), (INTC); Seygem Asset Management Owns (VIP), Gazprom; Seygem Asset Management Is Short (RSX)