Dell (DELL) popped 4%. The PC maker announced the replacement of two top executives suggesting to investors that Michael Dell may be rethinking his two-year revival plan to include outside talent. - They speak at a conference soon, adds Guy Adami. Listen to what they say.
First Solar (FSLR) popped 10%. Piper Jaffray said order rates could bottom in the first quarter setting up stock appreciation later this year. - I like their balance sheets, adds Joe Terranova.
Sandisk (SNDK) popped 15%. American Technology Research put out a note saying the company will gain share of the semiconductor market over time. - It's not a bad play, says JJ Kinahan.
Home Depot (HD) popped 5%. The stock moved higher despite a disappointing manufacturing report. - We're nearing resistance but I like HD, says Guy Adami.
Citigroup (C) popped 6%. CEO Vikram Pandit and Chairman Win Bischoff forfeited their 2008 bonuses because the company took such a beating last year. - Joe Terranova doesn't know what to say!
Oshkosh Truck (OSK) popped 16%. The Wisconsin-based firm won a contract valued at $1.2 billion to provide support for trucks to the U.S. government. - War is good business, says JJ Kinahan.
Disney (DIS) popped 5%. Its Adam Sandler-flick “Bedtime Stories” took second-place at the box office during the profitable holiday period. - The stock is best of breed in a terrible industry, says Jeff Macke. I'm long.
BorgWarner (BWA) popped 5%. The firm said it received an unsolicited mini-tender offer from TRC Capital to purchase up to 2.5 million shared of common stock.
PetroChina (PTR) popped 8%. China’s largest oil company plans to double the length of its natural gas pipeline by 2015 to meet increasing demand.
DryShips (DRYS) popped 17%. Rates to charter capesize-class ships rose and China completed plans to support its steel and auto industries.
DROPS (stocks that slid lower)
Hudson City Bank (HCBK) dropped 4%. Investors took profits after share price reached a point of technical resistance. However, it’s worth noting this bank is one of only a few that performed impressively over the past 12 months.
Equity Residential (EQR) dropped 4%. Investors bid this REIT lower on concerns that real-estate troubles have not played out completely.
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Trader disclosure: On Jan 2, 2009, 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 (MCD), (WMT), (TM), (DIS): Kinahan Owns (DELL), (GE), (HD), (HPQ), (INTC), (LEHMQ), (C ), (YHOO): Kinahan Is Short (BAC) Puts, (CSCO) Puts, (MSFT) Puts
GE Is The Parent Company Of CNBC
Terranova Works For (VRTS): 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), (DLR), (EPR), (EXR), (IGE), (SLB), (MAC), (DBC), (DBV), (SKT), (UA), (CLB); Virtus Investment Partners Owns More Than 1% Of Corporate Office Properties Trust SBI MD; Virtus Investment Partners Owns More Than 1% Of Goldman Sachs Financial Square Fund – Money Market Fund; Virtus Investment Partners Owns More Than 1% Of Seagate Tax Refund Rights