Pops & Drops: Fluor, Yahoo!...
Following are the week’s biggest winners and losers. Find out why shares of Fluor and Archer-Daniels-Midland popped while Yahoo! and Sprint dropped.
POPS (stocks that jumped higher)
Fluor (FLR) popped 2%. The largest publicly traded U.S. engineering firm announced third-quarter profits climbed 95%. – They had a nice quarter but I wouldn’t chase it, says Karen Finerman.
Archer-Daniels-Midland (ADM) popped 5%. Profits beat estimates, due to efficiencies in soybean processing and grain handling. – I like the direction they’re going and the stock looks cheap to me, says Pete Najarian.
Priceline.com (PCLN) popped 4%. Profit beat analysts’ estimates. – I wouldn’t buy it, counsels Guy Adami.
Molson Coors (TAP) popped 13%. The beer maker posted higher profits and said savings from its joint venture with SABMiller are being realized faster than expected. – I like their sales growth, says Pete Najarian.
DROPS (stocks that slid lower)
Las Vegas Sands (LVS) dropped 52%. The casino said it is seeking funding to stave off defaulting on loans while facing "substantial doubt" about its ability to survive. – No good, says Jeff Macke.
Yahoo (YHOO) dropped 4%. Microsoft CEO Steve Ballmer said the company had no interest in acquiring the Internet company and has "moved on". – Begging will get Yahoo! nowhere, exclaims Jeff Macke.
Sprint (S) dropped 1%. After winning approval from the FCC to combine its high speed wireless business with Clearwire Corp., Sprint then reported its fourth straight loss. – I think the stock will go down more, says Tim Seymour.
AutoNation (AN) dropped 7% for the week. The largest publicly traded U.S auto retailer missed on earnings but was later raised to "Neutral" from "Sell" by Goldman Sachs.
Wells Fargo (WFC) dropped 15%. The bank raised $11 billion from a stock sale but had to sell its stock at 6% below yesterday's closing price. – The market can’t tell how badly they need the capital, says Tim Seymour.
General Growth Properties (GGP) dropped 49%. The real estate investment trust reported a quarterly loss that was wider than expected and said its still exploring ways to raise capital. – It’s a cautionary tale. Donb't do a big acquisition with debt, explains Karen Finerman.
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Trader disclosure: On Nov.7, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour Owns (AAPL), (BAC), (F), (MER); Pete Najarian Owns (MSFT) And Is Short (MSFT) Calls; Pete Najarian Owns (CHK) Call Spread; Pete Najarian Owns (MBI) Put Spread; Pete Najarian Owns (YHOO) And Is Short (YHOO) Calls; Macke Owns (BNI), (DIS), (UUP), (MSFT), (WMT); Adami Owns (AGU), (BTU), (C), (GS), (INTC), (NUE), (MSFT); Finerman's Firm Owns (DNA) Call Spreads; Finerman's Firm Owns (MSFT); Finerman's Firm Is Short (USO), (IYR), (IJR), (MDY), (IWM), (USO), (SPY), (RTH); Finerman's Firm Is Short (VNO)
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