Pops & Drops: Capital One, Starbucks & Drunk in Indiana
Following are the day’sbiggest winners and losers. Find out why shares of American Science & Engineeringpopped while Las Vegas Sands and Starbucks dropped.
POPS (stocks and beyond that jumped higher)
POP: AMERICAN SCIENCE & ENGINEERING (ASEI) POPS 16%
The maker of security-inspection equipment pops after reporting a profit that beat estimates.
A 63% earnings increase gets Pete Najarian excited. Growth with a backlog, imagine that.
POP: LARRY SUMMERS
Larry Summers takes a lead over Timothy Geithner in the InTrade contract to become the next Treasury Secretary. Summers jumped 6% today and now leads Geithner 44% to 40% .
Tim Seymour wanted change, and not a retread.
DROPS (stocks and beyond that slid lower)
DROP: CAPITAL ONE (COF) DROPS 1%
The credit card company drops after American Express wins the Fed’s approval to become a commercial bank .
Karen Finerman thinks this is as low as it gets for CapitalOne and actually thinks this is a pop.
DROP: RUSSIAN STOCKS DROP 12%
The Russian Stock Market drops after the ruble continues to fall extending a 16% drop since August first.
"There's speculation they may depreciate the currency" says Tim Seymour.
DROP: LAS VEGAS SANDS (LVS) DROPS 35%
The casino company’s shares are halted after saying it will get a $525 million investment from the family of CEO Sheldon Adelson, and will sell $1.6 billion more in shares.
They won't be able to raise as much money as one might think with their latest secondary offering added Guy Adami.
DROP: FREEPORT-MCMORAN COPPER & GOLD (FCX) DROPS 9%
The world’s largest copper producer falls as copper prices fall to a two-week low on concern of lower demand.
Tim Seymour thinks it looks great here, and believes in copper long-term.
DROP: GOODYEAR TIRE & RUBBER CO (GT) DROPS 11%
The tire company declines as General Motors faces collapse and seeks federal aid.
"Unless you're buying a tire for Johnny's little swing in the backyard, there's no reason to buy these things" joked Guy Adami.
DROP: STARBUCKS (SBUX) DROPS 2%
The World's Largest Coffee Chain drops after fourth quarter profits were down 96%.
Pete Najarian thinks its obvious. Everyone is going to McDonald's now, forget Starbucks.
DROP: THIS INDIANA FAMILY
The State Police in Schererville, Indiana arrested a woman yesterday for drunk driving while she was on her way to pick up her one year old son. The boy’s father then came to pick him up, who was also drunk and subsequently arrested. Finally, the boy’s grandparents arrived, who were also drunk, but luckily not over the legal limit. The cops helped escort them home.
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On Nov 11, 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), Pete Najarian Owns (AXP) Put Spread, Finerman's Firm Is Short (IJR) (IYR) (IWM) (MDY) (SPY) (USO) (BBT) (VNO) (COF), Finerman's Firm Owns (CSCO) (MSFT) (OIH Puts), Finerman's Firm Is Short (USO), Seymour Owns (AAPL) (BAC) (EEM) (F) (MER) (SBUX), Seygem Asset Management Owns (EWZ) (FXI), Jon Najarian Is Short (FSYS)