KeyCorp (KEY) popped 6%. This and other regional banks closed higher after Dick Bove of Ladenburg Thalmann said he did not foresee further failures in the American banking system. - Also the yield curve is starting to play into their favor, explains Guy Adami.
Fortress Investment Group (FIG) popped 15%. The private-equity firm jumped today continuing it’s new year rally. However, shares lost as much as 90% of their value last year. - It's a good pop for them, says Guy Adami.
Infosys Technologies (INFY) popped 6%. The firm reported record-breaking third-quarter profits due in part to an increase in outsourcing contracts from clients looking to cut down on costs. - I own this stock, says Tim Seymour.
Oil Service HOLDRS ETF (OIH) popped 2%. Oil prices settled higher on Tuesday, bolstered by cold weather in the United States and comments by OPEC member Saudi Arabia that it had made deep production cuts. - I sold my puts on the OIH, says Karen Finerman. Hoping to see a bounce, now.
Zymogenetics (ZGEN) popped 25%. The small biotech announced a partnership with Bristol-Myers Squibb to co-develop its hepatitis C drug PEG-interferon lambda. - The partnership could be worth $1 billion, adds Pete Najarian.
DROPS (stocks that slid lower)
Sony (SNE) dropped 4%. Media reports out of Japan suggested the company will post record losses this year due to a slump in chip and electronics sales. - I think it could slide to $22, says Tim Seymour.
Lexmark International (LXK) dropped 13%. Fourth-quarter revenue fell about 17%, more than expected, and the company announced layoffs. - It's all bad things, says Pete Najarian.
Barclays (BCS) dropped 11%. The U.K. bank announced 2100 job cuts; about 7% of their staff. - Watch for margin compression, says Tim Seymour.
Boeing (BA) dropped 3%. Credit Suisse downgraded the stock to “neutral” from “outperform,” and said aerospace suppliers will continue to lower their prices in the face of dropping demand. - Be careful here, says Karen Finerman.
Adobe Systems (ADBE) dropped 7%. Friedman, Billings, Ramsey downgraded the stock to “underperform” from “market perform” and said the company’s shares have risen to a point where the risk-reward profile is unfavorable. - It might be an opportunity at this level, says Pete Najarian.
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Trader disclosure: On Jan 13, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Najarian Owns (CSCO) Stock; Najarian Owns (CSCO) Short Calls; Najarian Owns (MSFT) Stock; Najarian Owns (MSFT) Short Calls; Najarian Owns (DNA) Calls; Najarian Owns (XME) Calls; Najarian Owns (NVLS) Calls; Najarian Own (NVDA) Calls; Najarian Owns (MS); Najarian Owns (MS) Short Calls; Najarian Owns (MS) Put Spread; Adami Owns (AGU), (C), (BTU), (GS), (INTC), (MSFT), (NUE); Seymour Owns (BAC), (EEM), (F), (INFY), (EDC); Seymour's Firm is Short (PBR); Finerman's Firm Owns (AEO), (MSFT), (DNA); Finerman's Firm Owns (MSFT) Put Spreads; Finerman's Firm Owns (DNA) call spreads; Finerman's Firm Is Short (IYR), (IJR), (IWM), (MDY), (SPY), (USO), (ANF), (DSX)