Following are the day’s biggest winners and losers. Find out why shares of United Airlines and Smuckers popped while Tesoro and La-Z-Boy dropped.
POPS (stocks that jumped higher)
UAL Corp (UAUA) popped 5%. The parent company of United Airlines named a new VP and, of course, oil went down. – When oil pulls back airlines go up, reminds Pete Najarian.
JM Smucker (SJM) popped 8%. The maker of Smucker’s jams and Jif peanut butter reported higher sales and said they were able to pass along higher commodity costs. – I guess with a name like Smuckers it has to be that good, says Guy Adami with a sly smile.
Estee Lauder (EL) popped 14%. The maker of Clinique and Aveda enjoyed higher sales overseas. – That’s a very nice move, says Karen Finerman, but now this stock is expensive.
PMI Group (PMI) popped 50%. The U.S. mortgage insurer sold its Asian and Australian businesses. – I wouldn’t get near this stock with your money let alone mine, says Guy Adami.
Urban Outfitters (URBN) popped 4%. Profits increased 79% at this apparel maker, on strong same-store sales and fewer markdowns. – I expect they’ll give back these gains, says Jeff Macke.
Polo Ralph Lauren (RL) popped 5%. The luxury retailer will launch a mobile commerce site, hoping to stay ahead of the trend of mobile shopping that is already popular in Asia. – And they’re the official outfitter of the Olympics, adds Karen Finerman.
CTrip.com (CTRP) popped 24%. China’s biggest online ticketing agent said more people started to use the site to book flights and hotel rooms.
DROPS (stocks that slid lower)
Tesoro (TSO) dropped 4%. This refiner as well as it’s rivals were all down due to reports of decreased oil demand. Gasoline is getting the best of them, says Karen Finerman.
Borders (BGP) dropped 6%. A report suggests that rival Barnes & Noble will most likely not make a bid for the company, which has been up for sale since March. – Not so good, says Jeff Macke.
Boston Scientific (BSX) dropped 2%. The medical device maker recalled a heart stent. – Considering the news 2% isn’t so bad, says Pete Najarian.
La-Z-Boy (LZB) dropped 2%. BB&T Capital Markets downgraded the furniture company due to weaker demand for the products. – By the end of the day the stock almost came back to flat, adds Pete Najarian.
Flower Foods (FLO) dropped 13%. The baker and maker of Nature’s Own products missed on earnings, hurt by commodity costs.
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Trader disclosure: On Aug 14, 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 (COST), (DIS), (MSFT), (WMT), (UUP); Adami Owns (C), (GS), (INTC), (BTU), (AGU), (MSFT), (NUE); Najarian Owns (AAPL), (NOK), (TSO), (XTO); Najarian Owns (WPI) Calls, (ONXX) Calls, (MRVL) Calls, (CSCO) Calls; Najarian Owns (BGG) Puts; Finerman Owns (GS); Finerman's Firm And Finerman Own (C) Leaps; Finerman's Firm Owns (JCP), (MSFT), (NOK), (SUN), (TSO), (VLO), (MO); Finerman's Firm Is Short (IYR), (IWM), (SPY), (IJR), (XLF), (BBT), (COF); Finerman's Firm Owns (ANF) Call Spreads; Finerman's Firm Is Short British Pound