ADC Telecommunications (ADCT) popped 3%. The maker of phone equipment for AT&T forecast 2008 sales that beat analysts’ estimates.
Prudential (PRU) popped 1%. The second-largest US life insurer rallied this week after Barron’s recommended the stock as a good buy.
DROPS (stocks that slid lower)
Google (GOOG) dropped 7%. The Internet giant slipped after introducing its new web browser called Chrome. – Their growth is slowing, explains Jeff Macke.
Alcoa (AA) dropped 11%. The commodities slump turned this stock into a huge drag on the Dow. – The problem in commodities right now is bad, says Pete Najarian.
Oil Service Holdrs ETF (OIH) dropped 6%. The oil ETF moved lower after Gustav caused little damage to drilling platforms in the Gulf of Mexico. – At this level I’d get long, says Karen Finerman. I think the selling is overdone to the downside.
Johnson & Johnson (JNJ) dropped 2%. The FDA required arthritis and autoimmune drugs to carry stronger warnings about fungal infections. – I think the fundamentals are still in tact here, says Guy Adami.
Amazon.com (AMZN) dropped 5%. The nation’s largest e-tailer was dragged down by both tech and retail. – It’s a crazy market, exclaims Jeff Macke.
Advanced Micro Devices (AMD) dropped 8%. Merrill downgraded the company to “Under Perform” due to skepticism about its ability to turn a profit next quarter. – The whole space looks awful, says Pete Najarian.
Hovnanian (HOV) dropped 14%. The homebuilder reported a larger-than-expected quarterly loss amid the continuing housing slump. – They have a lot of debt on the balance sheet, explains Karen Finerman.
Freeport McMoRan (FCX) dropped 13%. Lower copper prices dragged down this miner which is sometimes traded as a proxy for copper. – If the metals start to turn you might want to own this stock, says Guy Adami.
Safeway (SWY) dropped 3%. Morgan Stanley downgraded this supermarket to “Underweight”, citing the grocer’s high prices.
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Trader disclosure: On Sept 5, 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 (MSFT), (WMT), (DIS), (ATVI); Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Najarian Owns (AAPL), (AAPL) Collar; Najarian Owns (RIMM) Call Spread; Najarian Owns (VMED) Puts; Najarian Owns (XLF), (XLF) Collar; Najarian Owns (ZMH) Calls; Najarian Owns (XLE) Call Spread; Najarian Owns (FTO) Calls; Najarian Owns (NOK) And Is Short (NOK) Calls; Finerman Owns (GS); Finerman's Firm Owns (MO), (MSFT), (NOK), (SUN), (TSO), (VLO); Finerman's Firm Owns (AAPL) Calls; Finerman's Firm And Finerman Own (C) Leaps; Finerman's Firm Owns (IRF) Calls; Finerman's Firm Is Short (BBT), (COF), (IYR), (IJR), (MDY), (SPY), (IWM); Finerman's Firm Is Short The British Pound