New York Times (NYT) popped 24%. Citigroup raised the Gray Lady to 'Hold' from 'Sell'. – Jeff Macke doesn’t know what to say.
Genentech (DNA) popped 5%. A study showed the firm’s Avastin treatment helped women with breast cancer live longer. – I’m long calls, reveals Karen Finerman.
Bank Of America (BAC) popped 27%. The entire banking sector closed higher after Washington agreed to bailout Citigroup. – The government is protecting equity, adds Tim Seymour.
Xerox (XRX) popped 17%. The 2009 profit forecast beats analysts’ estimates. – It was a good day for toner, says Karen Finerman.
CME Group (CME) popped 14%. Citigroup’s bailout suggests the need for transparency in the credit default swaps market is becoming more urgent and this exchange should benefit.
Hot Topic (HOTT) popped 27%. Pali Research said the company should benefit over the next few months from the success of the film “Twilight.” Hot Topic sells the vampire flick’s merchandise.
Alpharma (ALO) popped 8%. King Pharmaceuticals agreed to buy the firm for $37/share.
DROPS (stocks that slid lower)
Google (GOOG) dropped 2%. Analysts at Merriman Curhan & Ford put a ‘Sell’ rating on the company. – I think it could be a bottom, says Joe Terranova.
Campbell Soup (CPB) dropped 7%. Sales missed estimates and full year profits may be hurt by gains in the dollar. – Jeff Macke exclaims, “who knew?”
E*Trade Financial (ETFC) dropped 2%. Investors started to doubt that the online broker will be able to secure financing from the TARP fund.
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Trader disclosure: On Nov.24, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (UUP), (WMT), (MSFT); Macke Is Short (TM); Seymour Owns (AAPL), (BAC), (ETFC), (F), (MER); Seygem Asset Management Owns (VIP); Finerman's Firm Owns (DNA) Calls; Finerman's Firm Owns (DSX), (MSFT), (XLF); Finerman's Firm Is Short (USO), (GNK), (EGLE), (BBT), (COF), (IYR), (IJR), (MDY), (SPY), (IWM), (RTH); Terranova Owns (DIS)
Charles Schwab Is A Sponsor Of "Fast Money"
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), (CLB), (DLR), (EPR), (EXR), (MAC), (SLB), (SKT), (UA), (IGE), (DBC), (DBV); Virtus Investment Partners Owns More Than 1% Of Seagate Tax Refund Rights; Virtus Investment Partners Owns More Than 1% Of Shares Of Essex Property Trust Inc.; Virtus Investment Partners Owns More Than 1% Of Shares Of Corporate Office Properties Trust SBI MD