eBay (EBAY) dropped 2%. Argus downgraded the company to 'Hold' from 'Buy'. – People are going to sell the door busters they bought on eBay but I don’t think it benefits the stock, says Jeff Macke.
Arcelor Mittal (MT) dropped 6%. The steel maker may cut up to 9,000 job, 3% of its workforce, because demand continues to slump. – I’m cautious, says Dennis Gartman.
Apple (AAPL) dropped 2%. Analysts from UBS and Kaufman Brothers said the retailer was not being aggressive enough with its Black Friday mark downs. – I like Apple, says JJ Kinahan, Chief Derivatives Strategist, Thinkorswim.com.
Panasonic (PC) dropped 18%. The electronics maker slashed its full year profit forecast by 90%. – They’re having margin problems, says Jeff Macke.
Frontline (FRO) dropped 10%. The world's largest owner of supertankers posted third quarter profits that missed analyst estimates by 14%. – I’d be careful, says Dennis Gartman.
Amazon (AMZN) dropped 2%. Worries that consumers will not spend this holiday season continue to drag down the e-tail giant. – I think people will turn to online shopping a little closer to Christmas, says JJ Kinahan, Chief Derivatives Strategist, Thinkorswim.com. I’m bullish.
Nordstrom (JWN) dropped 2%. Despite having an upscale clientele, investors are still expecting the store to have a weak holiday shopping season.
Research In Motion (RIMM) dropped 5%. The just-released Blackberry Storm continued to receive mixed to negative reviews.
Williams-Sonoma (WSM) dropped 6%. The culinary giant just can’t convince investors that they will cook up profits this holiday season.
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Trader disclosure: On Nov. 28, 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 (MSFT), (UUP), (GM), (TM), (WMT); Kinahan Owns (CL), (GM), (HD), (JCP), (WFC), (XLF), (YHOO), (AAPL); Dennis Gartman Owns (AAPL); Gartman Owns a Natural Gas Trust; Dennis Gartman Is Short (KSS); Terranova Is Long (DIS)
Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO: rtus 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
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