Pops & Drops: Apple, Genentech...
Following are the day’s biggest winners and losers. Find out why shares of Apple and Genetech popped while Google and Campbell Soup dropped.
POPS (stocks that jumped higher)
Apple (AAPL) popped 12%. JP Morgan lifted its 2009 and 2010 profit estimates saying sales growth for notebook computers is accelerating. – I like it with a stop at $83, says Joe Terranova.
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.
Got something to to say? Send us an e-mail at firstname.lastname@example.org and your comment might be posted on the Rapid Recap! If you'd prefer to make a comment but not have it published on our website send your e-mail to email@example.com.
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