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Pop & Drop
Following are the day’s biggest winners and losers. Find out why shares of American Eagle and Chico’s popped while Caterpillar and American Express dropped.

POPS (stocks that jumped higher)

American Eagle (AEO) popped 3%. Despite a drop in same-store sales the teen retailer reaffirmed its third quarter outlook. – They’re a retailer with a great balance sheet, says Karen Finerman.

Chico’s FAS (CHS) popped 3%. Same-store sales declined at a rate that was slightly less than expected. – The man he ain’t so hard to understand, says Jeff Macke as a nod to the 1970’s sitcom "Chico and the Man".

Collective Brands (PSS) popped 11%. Shoe shopping remains a favorite American pastime with Payless reporting better-than-expected sales. – I’d take a little profit, says Karen Finerman.

DROPS (stocks that slid lower)

Caterpillar (CAT) dropped 6%. A top drag on the Dow, investors sold-off this stock on concerns that the economic slowdown is worsening. – I’d buy it around $61, says Guy Adami.

American Express (AXP) dropped 5%. Lehman cut estimates and reduced its price target on the stock to $27 from $42. – I’d like this stock 10% lower, says Karen Finerman.

Hovnanian (HOV) dropped 17%. The homebuilder reported a larger-than-expected quarterly loss. – This ain’t the bottom yet, exclaims Pete Najarian.

Limited Brands (LTD) dropped 6%. Same-store sales declined 7%, slightly more than analysts predicted. – I can’t imagine why anyone would want to be long, says Jeff Macke.

Yahoo! (YHOO) dropped 5%. Shares dipped to nearly a 5-year low adding to investor dissatisfaction with CEO Jerry Yang. – That guy has got to be the worst CEO ever, says Guy Adami.

Lockheed Martin (LMT) dropped 2%. The stock followed through on bearish bets, with a large volume of LMT puts trading in the options market. – There’s nothing wrong with this stock, it just hit a 52-week high and investors are taking profits, says Pete Najarian.

The Gap (GPS) dropped 4%. Same-store sales declined 8%; ironically they beat the analysts’ estimates. – I think it’s a buy around $17.50, says Guy Adami.

Ciena Corp. (CIEN) dropped 4%. The communications equipment maker warned its experiencing order delays from its customers. – I’d stay away, says Pete Najarian.

Abercrombie & Fitch (ANF) dropped 7%. Same-store sales fell 11% last month, as consumers turned to cheaper alternatives – It’s a tough market in a bad economy, says Jeff Macke.

Pops & Drops
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Trader disclosure: On Sept 4, 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 (WMT), (UUP), (ATVI), (MSFT), (CY), (EMC): Adami Owns (C), (GS), (INTC), (AGU), (BTU), (MSFT), (NUE): Finerman Owns (GS): Finerman's Firm Owns (AAPL) Call: Finerman's Firm Owns (AEO), (MSFT), (NOK), (SUN), (TSO), (VLO), (JCP), (JNJ), (RIG), (PDE); Finerman's Firm And Finerman Own (C) Leaps; Finerman's Firm Is Short (BAC), (XLF), (IYR), (IJR), (MDY), (SPY), (IWM), (COF), (WFC), (BBT), (WB); Finerman's Firm Owns (JCG) Calls.  (IRF) Calls: Pete Najarian Owns (AAPL) And (AAPL) Collar; Pete Najarian Owns (LEH) Call Spread, (LEH) Put Spread; Pete Najarian Owns (LMT) Put Spread; Pete Najarian Owns (MS) And Is Short (MS) Calls; Pete Najarian Owns (NOK) And Is Short (NOK) Calls; Pete Najarian Owns (XLF) And (XLF) Collar

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