Research In Motion (RIMM) popped 3%. Piper Jaffray released a research note that said December sell-in rates have improved, but warned gross margins could decline significantly in 2009. - Options action suggests the stock could go higher still, explains Joe Terranova.
Best Buy (BBY) popped 3%. Goldman upgraded the electronics retailer to “buy” from “neutral” and said it will benefit from the bankruptcy of Circuit City. - I'm a little skeptical, says Karen Finerman,
Barnes & Noble (BKS) popped 13%. Ron Burkle’s private-equity firm reported an 8% stake in the company, and may seek talks with the struggling book company. - I have one word -- "no," bristles Jeff Macke.
Teck Cominco Limited (TCK) popped 19%. The copper and coal miner popped along with the other beaten down mining stocks, as coal futures rise. -- Don't get too excited with this one, counsels Joe Terranova.
Hovnanian (HOV) popped 15%. Most of the homebuilders climbed on Monday after a report said U.S. construction projects fell less than forecast in November. - They have a ton of debt, reminds Karen Finerman.
NutriSystem (NTRI) popped 9%. The weight management system announced an agreement to sell its products at Costco in the U.S. - The partnership doesn't seem logical, says Guy Adami. People at Coscto buy large amounts of food.
DryShips (DRYS) popped 11%. Barron’s said trade should pick up and added it’s too late for selling the stock. - I'd take profits, counsels Jeff Macke. It's not too late to sell.
DROPS (stocks that slid lower)
AT&T (T) dropped 3%. Sandford Bernstein downgraded the firm to “market perform” from “outperform” citing a slowdown in wireless growth. - If you're long AT&T I suggest taking it off, says Joe Terranova.
SL Green Realty (SLG) dropped 5%. A NY Times article reported vacancy rates in office buildings exceeded 10% in almost every major city, and that 2009 may be the worst year for the commercial real estate market since the early 90’s. - NYC is not a good place to own real estate, says Karen Finerman.
Tyson Foods (TSN) dropped 6%. Tyson President and CEO Dick Bond announced he is leaving the company immediately, saying it is in the best interest for both the company and him. - That doesn't sound good, muses Guy Adami.
Saks (SKS) dropped 13%. Analysts estimated that the company’s December same-store sales fell 11% from last year. - It's not good, muses Guy Adami.
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Trader disclosure: On Jan. 5th, 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); Finerman's Firm Owns (OIH) Puts; Finerman's Firm Owns (DVN), (RIG), (MSFT), (IBB), (XBI, (DNA), (TBT); Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM), (USO), (BBT); Macke Owns (MSFT), (TM), (MGM)
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 Seagate Tax Refund Rights; 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
GE Is The Parent Company Of CNBC; NBC Universal Is The Parent Company Of CNBC