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Fast Money DisclaimerFast Money BiosAbout Fast MoneyRapid RecapFast Money Home
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Oct.31
7:05 PM ET
Friday, 31 Oct 2008
Pops & Drops: General Motors, Citigroup...

Pop & Drop
We’re doing something a little different here. Following are the month’s biggest losers. Find out which stocks were really roughed up during October!

DROPS (stocks that slid lower)

Hartford Financial (HIG) dropped 75%. The insurer dropped the most in 13 years this month after reporting its first unprofitable quarter in five years. – BAC downgraded the stock on Friday, reminds Guy Adami.

General Motors (GM) dropped 39%. The struggling auto maker got hit hard this month, after merger talks with Chrysler were put on hold until after the election. – Considering it’s a car maker that seems like a pop, says Zach Karabell sarcastically.

Citigroup (C) dropped 33%. The goliath bank suffered its fourth straight quarterly loss and forfeited its title of largest US bank by assets. – I’m expecting to hear that they're going to entertain something with Goldman or Morgan, says Joe Terranova.

iShares MSCI Emerging Markets ETF (EEM) dropped 25%.The emerging markets stocks hit a four year low as the credit crisis spread and inflation rose. – Valuations are cheaper here then they were in 2002 at the beginning a huge 5 year run, says Tim Seymour.

Alcoa (AA) dropped 49%. The company reported a 52% drop in third quarter earnings. – They suspended their stock repurchase plan, reminds Guy Adami.

Exxon (XOM) dropped 4%. The oil company posted a record profit for the quarter, and is only down slightly this month despite falling crude prices. – It’s been a laggard in energy for years, says Zach Karabell.

Petrobras (PBR) dropped 39%. Brazil’s state controlled oil company got hit due to the credit crunch and falling crude prices.

Caterpillar (CAT) dropped 36%. Heavy equipment maker Caterpillar dropped after reporting its earnings fell 6.4%.

Vimpel Communications (VIP) dropped 28%. The telecom company’s shares have fallen along with much of the Russian stock market.

AT&T (T) dropped 4%. The largest US phone company is the best performer in the Dow in black October, although it reported earnings that trailed estimates .

Cemex (CX) dropped 56%. Concerns about the global economy and weak demand dragged down this cement maker.

Pops & Drops
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Trader disclosure: On Oct. 31, 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); Seymour Owns (AAPL), (F), (MER), (EEV); Seygem Asset Management Owns (PBR), (VIP), (CX), (EEM); Karabell Owns (AAPL), (CAT), (CSCO), (GOOG), (JPM), (MS), (VIP), (UTF), (AGU); Terranova Owns (AAPL), (EXM), (FCX), (VLO), (X), (POT), (NOV), (MA), (FTO)

Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO; Virtus Diversifier PHOLIO Owns (IGE), (DBC), (DBV)

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 Seagate Tax Refund Rights; Virtus Investment Partners Owns Seagate Technology Tax Refund Rights; Virtus Investment Partners Owns More Than 1% Of Shares Of Incitec Pivot Ltd.; Virtus Investment Partners Owns More Than 1% Of Shares Of Essex Property Trust Inc.

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