Pops & Drops: Hewlett-Packard, AIG...
Following are the day’s biggest winners and losers. Find out why shares of Smurfit-Stone Container and Hewlett-Packard popped while AIG and Continental Airlines dropped.
(We didn't have time on TV because of late-breaking news about Lehman. But following are the movers that the Fast Money traders intended to tell you about.)
POPS (stocks that jumped higher)
Smurfit-Stone Container (SSCC) popped 3%. Analysts predicted paper producers will be able to raise prices.
Hewlett-Packard (HPQ) popped 1%. Sanford Bernstein raised the biggest maker of PC’s to “outperform” from “market perform.”
DROPS (stocks that slid lower)
AIG (AIG) dropped 20%. The insurance company went down with the rest of the financials and was the worst performer in the Dow.
Continental Airlines (CAL) dropped 6%. Usually a proxy for oil, the entire airlines sector closed down despite oil hitting a 5-month low.
MSCI Emerging Markets Index (EEM) dropped 6%. Uncertainty about the global economic outlook dragged this ETF lower.
Mastercard (MA) dropped 6%. Despite a Fox-Pitt Kelton upgrade to “Outperform” from “In-Line,” the company couldn’t buck the selling.
Dineequity (DIN) dropped 26%. The owner of IHOP and Applebee’s dropped after word got out that its CFO had resigned.
Goodyear (GT) dropped 12%. Motorists must be driving on bald tires; production in North American is down.
Syngenta AG (SYT) dropped 8%. The world’s biggest maker of agricultural chemicals said sales growth should slow next year.
TD Ameritrade (AMTD) dropped 9%. A Credit Suisse analyst cut his rating on the company, saying the “shares are now fairly valued.”
SPDR S& P Homebuilders ETF (XHB) dropped 6%. The number of signed contracts to buy previously owned homes fell more than expected.
First Solar (FSLR) dropped 10%. An analyst at Oppenheimer said that an oversupply of solar panels could hurt profits next year.
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Trader disclosure: On Sept 9, 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), (UUP); Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Najarian Owns (ETFC); Najarian Owns (AAPL) And (AAPL) Collar; Najarian Owns (LEH) Puts And (LEH) Put Spreads; Najarian Owns (RIMM) Call Spread; Najarian Owns (XLF) And (XLF) Collar; Finerman Owns (GS); Finerman's Firm Owns (GE), (MSFT), (SUN), (TSO), (VLO); Finerman's Firm Is Short (WB), (WFC), (XLF), (IYR), (IJR), (MDY), (SPY), (IWM), (BBT), (COF), (BAC); GE Is The Parent Company Of CNBC; NBC Universal Is The Parent Company Of CNBC