China ETF (FXI) popped 3%. The ETF made gains on post-earnings relief rallies in two of its largest components, China Mobile and China Life. – I’d take half off here, says Quint Tatro.
Nucor (NUE) popped 3%. UBS said the steel maker stands to benefit from continued global infrastructure demand, as well as strong U.S. exports and record high prices. – I like the stock here, says Guy Adami.
Valero (VLO) popped 4%. New forecasts suggests that Tropical Storm Gustav could intensify into a hurricane as it ploughs toward the U.S. – I’d take a look, says Joe Trranova but not because of the storm. Because of gasoline supplies.
Talbots (TLB) popped 29%. The apparel seller maintained its full year profit forecast. – Sell the rip, counsels Jon Najarian.
Borders (BGP) popped 22%. The second-largest US bookstore chain reported a narrower than expected loss. – I think you could get to double digits on this stock, says Joe Terranova.
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DROPS (stocks that slid lower)
Mattel (MAT) dropped 3%. The toymaker only won $100 million in its lawsuit over the rights to Bratz dolls, a sum much lower than the $1 billion it had originally sought. – I like Mattel at current levels, says Guy Adami.
Amylin (AMLN) dropped 26%. The drug developer revealed that its diabetes drug Byetta was linked to two more deaths last week, bringing the total number of deaths to six. – Goldman maintains a $46 price target on this stock, explains Joe Terranova.
Solarfun (SOLF) dropped 13%. Investors took profits in this volatile stock after it beat on earnings and raised shipment guidance. – I’m done with solars for a while, says Quint Tatro.
American Axle (AXL) dropped 2%. An analyst downgraded the stock to “Neutral” from “Outperform” due to weakness in the US auto industry. – I like Borg Warner better, says Guy Adami.
Dollar Tree (DLTR) dropped 4%. The discount chain’s 2008 outlook fell short of the Street’s expectations. – I think you can buy it on the dip, says Jon Najarian.
Brown Shoe (BWS) dropped 3%. The maker of Naturalizer and Viq Spaga said profits were down 80% this quarter and they reduced full-year outlook. – It’s not for me, says Quint Tatro.
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Trader disclosure: On Aug 27, 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); Jon Najarian Owns (C), (JPM); Jon Najarian Owns (AAPL) And (AAPL) Calls; Jon Najarian Owns (ALF) Calls, (NTAP) Calls, (RMBS) Calls, (EWH) Calls, (UNG) Calls; Tatro Owns (C); Quint Tatro Is The Principal Of Tatro Capital; Tatro Capital Owns (FXI), (SHLD), (XHB), (XLF), (SMN); Tatro Capital Is Short (MON), (MOS), (POT), (RIMM); Terranova Owns (POT), (NOV), (SA), (GS), (KOL), (EOG), (VLO), (FCX), (RIMM), (AAPL), (X); Terranova Owns (AIG) Puts; Terranova Owns Dec. 2008 RBOB Gasoline Crack Futures
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)