UnitedHealth Group (UNH) popped 9%. S&P affirmed its 'A-' counterparty credit rating on strength in UNH's subsidiaries.
Hess (HES) popped 7%. Shares of the oil company moved up as crude futures clawed their way higher.
DROPS (stocks that slid lower)
Costco (COST) dropped 3%. The biggest US warehouse-club chain missed on first-quarter earnings, due to a slowdown in sales. – Considering what happened with retail that’s almost like a pop, says Karen Finerman.
Harley-Davidson (HOG) dropped 10%. The motorcycle company issued a secondary stock offering intended to reduce debt. – Stay away, says Jeff Macke.
Sprint Nextel (S) dropped 14%. Moody’s lowered its debt rating to below-investment grade, citing its weakened position in the wireless phone market. – I think it could be in a race to zero, speculates Guy Adami.
DryShips (DRYS) dropped 17%. The shipper of dry bulk goods announced it’s canceling $400 million in orders for 4 new dry-bulk vessels. – I hope you took profits, says Pete Najarian. They were up 200% over the past few days.
Capital One (COF) dropped 13%. The sector dropped on concerns credit card companies will be forced to write down balances as more borrowers become unable to make payments. – The credit card situation is not getting better, says Karen Finerman.
Urban Outfitters (URBN) dropped 20%. The retailer reported holiday season sales may decline. – Tough time for retailers, says Jeff Macke.
Stanley (SWK) dropped 5%. The toolmaker cut 2,000 jobs, closed 3 factories, and reduced its full-year earnings forecast, citing a dramatic sales decline. – They lowered guidance 10% and the stock was only down 5%, says Guy Adami. Isn’t that really a pop?
Wells Fargo (WFC) dropped 11%. CEO John Stumpf reiterated the company’s credit losses and said he expects to write down $71.4 billion of Wachovia loans. – All the banks were down, adds Karen Finerman.
Lululemon (LULU) dropped 32%. The yoga-wear maker forecast weaker sales and lower profit for the year. – Things aren’t going well for them, bristles Jeff Macke.
Hanesbrands (HBI) dropped 24%. Competitor Gildan Activewear warned on fourth quarter earnings.
EMCORE Corp. (EMKR) dropped 34%. The maker of fiber optic and solar products posted a loss of 25 cents a share.
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Trader disclosure: On Dec. 11th, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Macke Owns (MSFT), (WMT), (MCD); Pete Najarian Owns (NUE), (FCX); Pete Najarian Owns (DRYS) And Is Short (DRYS) Calls; Pete Najarian Owns (SBUX) Calls; Pete Najarian Owns (UYG) Calls; Pete Najarian Owns (XHB) Calls; Finerman Owns (SRS), (MSFT); Finerman's Firm Owns (OIH) Puts; Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM), (BBT), (VNO), (SPG), (FCE.A), (COF), (USO)