Following are the day’s biggest winners and losers. Find out why shares of Alcoa and Research In Motion popped while Sovereign Bank and GE dropped.
POPS (stocks that jumped higher)
Alcoa (AA) popped 23%. A belief that the credit markets could begin to unfreeze cheered investors who thought sales might increase for the aluminum giant. – I would sell the rally, counsels Tim Seymour.
Utilities SPDR popped 11%. The Utilities ETF was one of the biggest gainers in the S&P Monday with energy names getting a boost from higher crude prices. – I think the space is a buy, says Guy Adami.
Research In Motion (RIMM) popped 16%. Hopes that business spending might soon improve buoyed shares of the BlackBerry maker. – Hail Canada, exclaims Jeff Macke.
Boeing (BA) popped 13%. The machinists union reopened negotiations to end a 5-week strike. – I’m optimistic that they reach an agreement soon, says Karen Finerman.
Burton Malkiel. Wall Street Journal writer and economist Burton Malkiel responded to the Lone Wolf’s call about staying in the ‘cash and fetal’ position in his article this morning. He seems to disagree with Macke’s call. Click here to read more.
Prudential (PRU) popped 38%. Its third quarter earnings pre-announcement was better than most investors had expected. – I like this stock, says Tim Seymour.
Chesapeake Energy (CHK) popped 22%. The energy company said it should generate around $3 billion in the fourth quarter on the sale of its stake in the Marcellus Shale. – I think CHK goes higher from here, says Guy Adami.
AT&T (T) popped 16%. The telephone giant announced plans to sell high-speed Internet and video services at Wal-Mart and Circuit City. – I don’t know what to say, muses Jeff Macke.
E*Trade (ETFC) popped 18%. Investors likely believe the online broker is positioned to profit from large swings in the market; they make money from volume. – Move along, says Karen Finerman.
Mosaic (MOS) popped 21%. The fertilizer firm moved in tandem with commodity prices. – I think they have strong pricing power in the space, adds Tim Seymour.
DROPS (stocks that slid lower)
Sovereign Bank (SOV) dropped 3%. Investors sent shares lower after Sovereign confirmed speculation that its in deal talks with Banco Santander. – Not so good, says Jeff Macke.
General Electric (GE) dropped 2%. Shares of GE slipped Monday after the company reported a 22 percent decline in third-quarter earnings. – It’s just rotation, says Karen Finerman. Nothing more.
Got something to to say? Send us an e-mail at email@example.com and your comment might be posted on the Rapid Recap! If you'd prefer to make a comment but not have it published on our website send your e-mail to firstname.lastname@example.org.
Trader disclosure: On Oct.13, 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 (C), (WMT), (MCD), (BNI), (MSFT); Adami Owns (AGU), (C), (BTU), (GS), (INTC), (MSFT), (NUE); Finerman Owns (GS); Finerman's Firm Owns (DELL), (MSFT); Finerman's Firm Owns (MS) Calls; Finerman's Firm Is Short (USO), (IJR), (MDY), (SPY), (IWM), (USO), (BBT), t (COF); Seymour Owns (AAPL), (F), (GE), (MER); Seygem Asset Management Owns (EEM); GE Is The Parent Company Of CNBC; NBC Universal Is The Parent Company Of CNBC; Finerman's firm owns (MRK); Seygem Asset Management Owns (MER)