Goldman Sachs (GS) popped 18%. Despite posting a $2 billion loss, it’s first loss as a publicly traded company, investors bid this stock higher. – I think it could go higher still, says Pete Najarian.
Honeywell International (HON) popped 13%. The world’s largest maker of cockpit controls popped this week after saying '09 profits will be in line with analysts estimates. – The market rewarded the fact that they’re going to focus on paying down debt, says Joe Terranova.
Siemens (SI) popped 12%. CEO Peter Loescher said the company is in a strong financial position and its industrial sector is on track to reach its 2008 and 2009 targets.
Best Buy (BBY) popped 15%. The electronics retailer reported better-than-expected quarterly results and announced plans to cut staff and reduce new-store openings.
Potash (POT) popped 7%. The world’s largest fertilizer firm made gains this week despite cutting its profit forecast.
DROPS (stocks that slid lower)
Apple (AAPL) dropped 9%. The firms said CEO Steve Jobs won’t speak at the Macworld Expo next month, raising questions about his health. – Apple trades in a narrow range and it’s still there, says Zach Karabell.
Chevron (CVX) dropped 10%. This firm along with other oil companies took a beating as crude prices slipped to a 5-year low. – This is a correction and I think it’s a buy with a $68 stop, counsels Joe Terranova.
Russia ETF (RSX) dropped 7%. Russia’s unemployment rate hit a 7-month high and retail sales fell for the first time since January. – The biggest issue with Russia is its politics, says Tim Seymour.
General Electric (GE) dropped 4%. S&P cut its outlook for the company citing concern over cash flow and funding for the finance unit. – It’s held up relatively well, muses Zach Karabell.
HSBC Holdings (HBC) dropped 17%. S&P revised its outlook on the British giant to negative from stable due to a deepening economic global slowdown. – They outperform the rest of the sector, reminds Tim Seymour.
Weyerhaeuser (WY) dropped 7%. The largest North American lumber producer said fourth-quarter earnings will be lower than expected and the firm cut its dividend by more than half.
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Trader disclosure: On Dec. 19th, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seygem Asset Management Owns (EEM): Seymour Owns (AAPL), (BAC), (F), (MER), (DXO): Karabell Owns (AAPL), (GLD), (GOOG), (JPM), (UYG); Pete Najarian Owns (UYG)
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), (OFC), (DLR), (EXR), (IGE), (MAC), (DBC), (DBV), (SKT), (UA), (CLB); Virtus Investment Partners Owns More Than 1% Of Seagate Tax Refund Rights
GE Is The Parent Company Of CNBC