Dow Chemical (DOW) popped 7%. Speculation suggests the chemical maker will try to reduce the price it agreed to pay for Rohm & Haas by about 35%. - I don't think they can get it, says Karen Finerman.
SPDR S&P Homebuilders ETF (XHB) popped 3%. Investors were looking for a bottom after data showed pending home sales fell to a 7 year low in November. - It's a pop but nothing more, bristles Jeff Macke.
Prudential Financial (PRU) popped 16%. Fox-Pitt Kelton said the firm is “poised to have a solid ’09,” and that the life insurers may recover in valuation this year. - Across the board investors are getting more comfortable with insurance companies, says Pete Najarian.
The New York Times (NYT) popped 1%. The paper began to place advertisements on its front page, after struggling with falling ad revenues. The company collects premium prices for the highly visible placement. - They sold their soul today, muses Karen Finerman.
Best Buy (BBY) popped 4%. The largest US electronics retailer announced plans to sell refurbished iPhones for $50 less than new models.
Domino’s Pizza (DPZ) popped 11%. The pizza chain claims its sandwiches beat rival Subway in a national taste test.
Indevus Pharmaceuticals (IDEV) popped 74%. Rival Endo Pharmaceuticals agreed to buy the firm for over $630 million.
DROPS (stocks that slid lower)
Reynolds American (RAI) dropped 5%. Congress plans to create new legislation to battle the tobacco industry, including regulating cigarettes, raising sales tax, and ratifying an international anti-tobacco treaty. - It's not cool to smoke, exclaims Guy Adami.
Celgene (CELG) dropped 7%. The biotech company reported revenues were on the low-end of projections, and Baird cut the firm to neutral from outperform. - We will see who laughs last, says Guy Adami. I still like this stock.
Evergreen Solar (ESLR) dropped 2%. The firm closed one of its plants and as a result will incur about $25 million in charges.
Garmin (GRMN) dropped 4%. Goldman put the company on its “conviction sell” list citing a decline in markets.
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Trader disclosure: On Jan 6, 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 (MSFT), (TM), (MOS), (WMT); Najarian Owns (CSCO), (ERTS), (MSFT), (GS), (XLB), (EEM); Najarian Owns Short Calls (MSFT); Najarian Own (NVDA) Long Sread ; Finerman's Firm Owns (MSFT), (EEM), (DNA); Finerman's Firm Is Short (IYR), (IWM), (MDY), (SPY), (USO), (IJR), (BBT), (GNK)
