CIT Group (CIT) popped 12%. The largest US independent commercial lender popped after Bernanke said US must used funds to limit foreclosures. – I own this turkey, exclaims Pete Najarian.
Amazon.Com (AMZN) popped 5%. Barclays upgraded the company to “overweight” from “equal weight,” citing reduced competition. – I didn’t know the stock on the way up so I’m not going to recommend selling the rally, counsels Guy Adami.
Morgan Stanley (MS) popped 8%. Fitch Ratings remarked positively about some of the investment bank’s holdings. – It will probably go down, says Jeff Macke.
Williams-Sonoma (WSM) popped 7%. The gourmet-cookware chain reported a third-quarter loss that was smaller than analysts had expected and confirmed its full year forecast. – This might have a little more room on the upside, counsels Guy Adami.
DROPS (stocks that slid lower)
Oil Service Holdrs ETF (OIH) dropped 11%. The oil ETF fell as crude oil continued its decline. – I'm a buyer of oil at current levels, says Tim Seymour.
Starbucks (SBUX) dropped 1%. The coffee chain popped, despite warning that 2009 will be even rougher than the second half of 2008. – I think there’s going to be some upside, speculates Pete Najarian.
Diamond Foods (DMND) dropped 22%. The seller of Diamond and Emerald nuts and snacks forecast second-quarter results that fell below estimates. – Not a good quarter for nuts, chuckles Jeff Macke.
Alcoa (AA) dropped 13%. Investors bid the stock lower on concerns the company may be forced to suspend its dividend.
Adobe Systems (ADBE) dropped 9%. The biggest maker of design software cut its fourth-quarter sales forecast.
Jefferies Group (JEF) dropped 14%. The brokerage firm said fourth-quarter losses will be worse than expected and it announced layoffs and office closings.
Hot Topic (HOTT) dropped 14%. The teen retailer dropped despite reporting better than expected November sales.
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Trader disclosure: On Dec. 4th, 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), (WMT), (UUP), (MCD); Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Najarian Owns (FCX); Najarian Owns (NUE) And Is Short (NUE) Calls; Najarian Owns (CIT) Calls; Najarian Owns (SBUX) Call; Seymour Owns (AAPL), (BAC), (BX), (F), (MER); Seygem Asset Management Owns (RIO)
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