Exxon Mobil (XOM) popped 3%. Oil’s decline could increase margins for this integrated oil giant. – I think it goes up even more, says Guy Adami.
International Rectifier Corp (IRF) popped 7%. Vishay Intertechnology Inc. raised its bid to buy the company. – I like this stock, says Karen Finerman.
Honda (HMC) popped 5%. An auto parts suppliers will double production of fuel injectors that improve motorcycle fuel-efficiency in order to comply with Asia’s emission regulations. –Honda is as diversified as they get, says Pete Najarian. I think they’re the one to own.
Micron (MU) popped 10%. A WSJ article reported that the company is in good health and analysts see the company returning to profitability next year. – I’d avoid this stock, counters Guy Adami.
American Eagle Outfitters (AEO) popped 4%. A Banc of America analyst upgraded the stock to “Buy” from “Neutral.” – I’d sell the pop, says Karen Finerman.
American Axle (AXL) popped 6%. The auto parts maker enjoyed a boost along with most of the auto makers. – The $25 billion dollar bailout for the auto industry sure helps, says Guy Adami with a sly smile.
DROPS (stocks that slid lower)
Boeing (BA) dropped 4%. The aviation giant said a $35 billion contract was delayed. – I think the sell-off is overdone, says Karen Finerman.
Las Vegas Sands (LVS) dropped 10%. Gambling revenue on the Las Vegas strip fell in July for the seventh month in a row dragging down this and most other casino stocks. – They’ve been beaten senseless and at some point it will be in the stock, exclaims Jeff Macke.
Sirius XM Radio (SIRI) dropped 14%. The U.S. satellite radio provider dropped the most in almost four years after forecasting subscriber growth yesterday that missed some analysts’ estimates. – It’s broken, says Jeff Macke. Stay away.
Synovus Financial Corp (SNV) dropped 3%. The owner of banks in the Southeastern US said it plans to slash its dividend after suffering mortgage-related losses. – It’s a regional bank, exclaims Jeff Macke. ‘Nuf said.
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Trader disclosure: On Sept 10, 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), (MSFT), (UUP); Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Najarian Owns (AAPL) And (AAPL) Collar; Najarian Owns (KR) Calls; Najarian Owns (RIMM) Call Spread, (XLE) Call Spread; Najarian Owns (XLF) Collar; Najarian Owns (LEH) Put Spreads; Najarian Owns (MS) And Is Short (MS) Calls; Finerman Owns (GS); Finerman's Firm Owns (MSFT), (TSO), (VLO), (AEO); Finerman's Firm Is Short (BAC), (WFC), (XLF), (IYR), (IJR), (MDY), (SPY), (IWM), (KSS); Finerman's Firm Owns (DNA) Calls, (IRF) Calls; Finerman's Firm Owns Shares Of SeaDrill Limited