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.
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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)