Pops & Drops: Hewlett-Packard, JP Morgan & Air Wagoner
Following are the week’sbiggest winners and losers. Find out why shares of Hewlett-Packard popped while JP Morgan and the New York Times dropped.
POPS (stocks and beyond that jumped higher)
POP: GYMBOREE (GYMB) DROPS 2%
The children's clothing company pops after beating earnings estimates for the third quarter
Zachary Karabell thinks they make such nice clothes and there are still plenty of kids running around.
POP: HEWLETT-PACKARD (HPQ) POPS 13%
The world’s biggest PC maker pops after a strong fourth quarter report and outlook for next year, and after being added to Goldman’s "conviction buy" list.
Guy Adami thinks this stock is still cheap even after the rise this week.
The Somali pirates seized a Saudi-owned supertanker on Tuesday carrying over $100 million worth of crude oil. The pirates are now demanding $25 million in ransom for the return of the vessel and its crew.
DROPS (stocks and beyond that slid lower)
DROP: JPMORGAN (JPM) DROPS 34%
The largest US bank by market value drops this week after slashing 10% of its investment banking staff, and as Sandler O'Neil slashes its fourth quarter outlook for the firm.
Guy Adami says it wasn't a good week to be a bank.
DROP: MACY'S (M) DROPS 23%
A drop for retailer Macy's a week before it's famed Thanksgiving Day parade. The second biggest U.S department store faces the possibility of losing its investment grade rating as its debt started trading like a junk bond.
"Not all the Jamie Dimon or Donald Trump calendars in the world can save Macy's here." sniped Jeff Macke.
DROP: USG CORP (USG) DROPS 23%
Despite Warren Buffett boosting his stake in the building materials supplier, USG drops for the week
Karen Finerman says its been a bad week for Buffett.
DROP: AIR WAGONER
After intense criticism for allowing Rick Wagoner to take the company's private jet to ask Congress for a bailout, GM has now decided it will sell two of its leased corporate jets.
DROP: NEW YORK TIMES (NYT) DROPS 27%
The newspaper publisher drops after announcing a 74% cut in its dividend, as the company’s revenue continues to decline
Jeff Macke says to stay away as NYT has tons of debt and finally cut their dividend.