Pops & Drops: Microsoft, Savient, Christmas, Humana, NVIDIA
United States Steel Corp. (X) DROPS 11%. The second largest steel producer Drops as UBS cuts the company's rating to "sell" from "buy" saying it is "increasingly cautious on earnings for U.S Steel".
NVIDIA (NVDA) POPS 5%. The chipmaker pops after releasing a new graphics processing unit aimed at mainstream computer users. This may be part of the Apple rundown
Sirius XM Radio (SIRI) POPS 30%. The satellite radio provider pops to 0.38 cents with no warning.
AMR Corp (AMR) DROPS 2%. The owner of American Airlines despite analysts foreseing profits for the industry in 2009, as lower energy costs hit the books. Not good enough... stay away.
DROP: Christmas... a drop for Christmas, as the upcoming holiday season will be the most difficult in 10 years for US retailers and S&P report. As consumers cut back spending, unemployment rises andthe global recession continues, holiday spending will be anything but merry. Down 2% is is pretty good, all things considered.
Textron (TXT) POPS 11%. The world’s biggest business-jet maker pops after two company directors announced they bought company shares.
Savient Pharmaceuticals (SVNT) DROPS 73%. The drug maker drops after its treatment for gout reported concerning cardiovascular side effects during clinical trials. Yowch!
DROP: Casino Stocks. The casinos stocks down today after analysts say the outlook is grim for the fourth quarter, as consumers curb spending and visit Vegas and Macau less frequently (WYNN, MGM). Might be a good time to go to Vegas, though.
Humana (HUM) DROPS 15%. The health insurance company drops after reporting a 39% decline in profits on investments on financial companies and rising costs in its drug plans for the elderly. Their guidance is not bad, and the drop is surprising.
DROP: Microsoft... Despite the stock only being down a little today, Microsoft gets a drop, as rival Google has recently purchased a new fighter jet. The Dornier Alpha jet will be used to fly missions for neighbor NASA, and no attacks on Microsoft have been planned as of yet.
DROP: Marriage... A reluctant groom set fire to the motel where he was due to get married later that day rather than go through with the ceremony. The man had gone along with wedding plans despite already having a wife. He said "I thought if I set a fire I wouldn't have to go through with the wedding."
Adami Owns (AGU)(BTU)(C)(GS)(INTC)(MSFT)(NUE) -- Macke Owns (MCD)(WMT)(MSFT)(SDS)(UUP) -- Pete Najarian Owns (INTC) And Is Short (INTC) Calls, (MGM) And Is Short (MGM) Calls, (MS) Put Spread -- Jon Najarian Owns (UBS)(FCX) Calls, (SU) Calls -- Finerman's Firm Is Short (IYR)(IJR)(MDY)(SPY)(IWM)(BBT)(COF) -- Finerman Owns (GS) -- Finerman's Firm Owns (JNJ)(MRK)(MSFT)(SUN) -- Finerman's Firm Is Short (USO) -- Gartman Owns (FXE) And Is Short (FXY) -- CIBC Gartman Index Is Long The Australian Dollar And Is Short The Euro -- Pado does not have disclosures on: S&P 500, RTH, QQQQ, GS
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