Chico’s (CHS) popped 2%. The apparel makers beat analysts’ estimates. – I’d stay away, says Jon Najarian. It had been up as much as 10% but couldn’t hold the gains.
EOG Resources (EOG) popped 5%. The Houston-based oil and gas producer received an upgrade from a Sanford Bernstein.
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DROPS (stocks that slid lower)
Delta Air Lines (DAL) dropped 5%. S&P reaffirmed its 'outlook negative' rating on Delta's corporate debt, and expects the airline to post a significant loss this year. – They tapped a big line of credit, explains Jon Najarian.
Big Lots (BIG) dropped 7%. Investors cashed out of this retailer after it reported strong earnings and raised guidance. – I’d stay away, counsels Quint Tatro.
CME Group (CME) dropped 5%. Bank Of America lowered its price target. – I’d avoid it until the end of the year, says Joe Terranova.
Smithfield Foods (SFD) dropped 7%. Higher feed costs and write-downs on commodity contracts sent investors scrambling for the exits. – I think it’s worth a look, says Quint Tatro.
Sanderson Farms (SAFM) dropped 11%. CEO Joe Sanderson, Jr. said the company will need "divine intervention'' to make a profit in the current quarter. – I think you have to give the CEO credit for being so candid, says Joe Terranova.
Solarfun (SOLF) dropped 5%. China’s solar cell producer closed lower ahead of Tuesday’s profit report. – There is a good chance they crush numbers, counsels Guy Adami.
Marvell Technology (MRVL) dropped 7%. The maker of chips for BlackBerry and iPhone received a downgrade from Jefferies from “Buy” to “Hold.”
Corinthian Colleges (COCO) dropped 19%. The for-profit operator of North American colleges and trade schools reported a loss and said it’s facing a challenging environment for students to obtain loans.
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Trader disclosure: On Aug 26, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Tatro Owns (C), (GS); Quint Tatro Is The Principal Of Tatro Capital; Tatro Capital Owns (QQQQ), (SSO), (SPY), (FXI), (XLF), (IHI); Jon Najarian Owns (C), (EXM), (JPM), (UNG); Jon Najarian Owns (AAPL) Calls, (MRVL) Calls, (RMBS) Calls, (EWH) Calls; Jon Najarian Owns (PTEN) Call Spread; Terranova Owns (AAPL), (RIMM), (EOG), (VLO), (YHOO), (NOV), (KOL), (GS), (POT), (SA), (FCX); Terranova Owns (AIG) Puts
Terranova Is Chief Alternatives Strategist Of Phoenix Investment Partners, Ltd.; Phoenix Investment Partners Owns More Than 1% Of (ABD), (ARE), (BRE), (CNTY), (CLB), (OFC), (DLR), (ESS), (EXR), (FL), (IAT), (IGE), (LNET), (MAC), (OIIM), (PSPT), (DBC), (DBV), (SLB), (SKT), (BLV)
Terranova Is Co-Portfolio Manager Of The Phoenix Diversifier PHOLIO; Phoenix Diversifier PHOLIO Owns (IGE), (DBC), (DBV)