The Hartfold (HIG) popped 6%. The insurance giant along with the rest of the industry closed higher following a rough week of market rumors that appear to be unfounded. – Harry Reid’s comments didn’t help, adds Tim Seymour.
Mosaic (MOS) popped 3%. In an interview the company’s CEO said he did not see next years crop plantings being hurt by the effects of the credit freeze. – The stock is off 75% since June, adds Guy Adami.
Ternium (TX) popped 4%. Latin America’s second-largest steelmaker closed higher on hopes auto sales will pick up.
BHPBilliton (BHP) popped 3%. Despite the credit crisis the miner said it would still be able to obtain financing and takeover rival Rio Tinto.
DROPS (stocks that slid lower)
Apple dropped 3%. Rumors that CEO Steve Jobs had suffered a heart attack sent shares lower. The report was not true. – We’re all going to die someday, says Guy Adami.
Penn National Gaming (PENN) dropped 14%. The casino stock warned its third-quarter profits and revenue will be lower due to economic conditions. – Room rates are down, adds Zach Karabell.
CB Richard Ellis (CBG) dropped 11%. The world’s largest commercial real-estate broker slid after vacancies in office building recorded their biggest jump since in 6 years. – It’s all about occupancy rates, says Guy Adami.
Coca-Cola (KO) dropped 2%. No clear reason for the drop except that the drink maker lowered its profit forecast for its operations in Russia.
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Trader disclosure: On Oct. 3, 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); Karabell Owns (AAPL), (AGU), (BHP), (GOOG), (JPM), (MS), (RIMM); Seymour Owns (AAPL), (INTC), (MER); Terranova Owns (AAPL), (EOG), (FCX), (FTO), (GS), (MA), (NOV), (POT), (X), (VLO)
Terranova Is Chief Alternatives Strategist Of Virtus Investment Partners, Ltd.; Virtus Investment Partners Owns More Than 1% Of (ABD), (ARE), (BIG), (CNW)
, (OFC), (DLM), (DRH), (DLR), (EPR), (EXR), (FL), (SLB), (LNET), (MAC), (DBC), (DBV), (SKT), (UA), (BLV), (VV), (CLB), (GWX), (IGE), (FSMXX); Virtus Investment Partners Owns More Than 1% Of Shares Of Incitec Pivot Ltd.; Virtus Investment Partners Owns Seagate Tax Refund Rights; Virtus Investment Partners Owns Seagate Technology Tax Refund Rights; Virtus Investment Partners Owns More Than 1% Of Shares Of Essex Property Trust Inc.
Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO; Virtus Diversifier PHOLIO Owns (IGE), (DBC), (DBV)