Geron (GERN) popped 46%. The FDA cleared the way for the world's first study of human embryonic stem cell therapy. This firm plans to start a clinical trial that will attempt to use stem cells to re-grow nerve tissue in patients with spinal cord injuries. - Don't get too excited, this is years away still, says Pete Najarian.
Apple (AAPL) popped 7%. The tech titan eased investors’ fears about Apple’s future with strong quarterly results. - It's a great job on their earnings, says Karen Finerman.
DROPS (stocks that slid lower)
Wal-Mart (WMT) dropped 6%. Shares slid as investors grew more skeptical of the consumers' willingness to spend. - I no longer own Wal-Mart, reveals Jeff Macke.
Playboy (PLA) dropped 7%. The firm reported a fourth-quarter loss and said it would have to cut jobs. - I think it could be a buy, muses Guy Adami.
New York Times (NYT) dropped 10%. The struggling publisher declined this week despite word that billionaire Carlos Slim’s would put $250 million into the company. - Not so good, bristles Jeff Macke.
MEMC Electronic Materials (WFR) dropped 7%. The maker of silicon wafers had dropped as much as 13% but then made back lost ground after Hapoalim Securities upgraded the firm to “hold” from “sell.” - Interseting, says Pete Najarian.
Xerox (XRX) dropped 8%. The firm blamed consumer spending for its earnings miss and they gave a forecast that trailed analysts’ estimates.
Aflac (AFL) dropped 38%. S&P downgraded the firm; shares also fell on concerns related to losses in UK banks.
CSX (CSX) dropped 3%. This and other transport stocks finished the week lower on concerns over lower volume.
Wells Fargo (WFC) dropped 15%. After reporting dismal earnings, some analysts speculated that the bank still needs billions more in equity for a sustained recovery.
Alcoa (AA) dropped 11%. Rival Rio Tinto said it will reduce output and cut jobs, because demand for metal continues to decline.
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Trader disclosure: On Jan 23, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (MS), (BAC), (C), (TM), (MCD); Adami Owns (AGU), (C), (BTU), (GS), (INTC), (MSFT), (NUE); Najarian Owns (EEM) Call Spread; Najarian Owns (FCX) & (FCX) Short Calls; Najarian Owns (GLD) Call Spread; Najarian Owns (GE) Put Spread; Najarian Owns (MSFT) & (MSFT) Short Calls; Najarian Owns (MS) & (MS) Short Calls/Put Spread; Najarian Owns (GNW) Long Calls; Finerman's Firm Owns (DNA) & (DNA) Call Spread; Finerman's Firm Owns (MSFT), (TBT), (UNH), (V); Finerman's Firm Is Short (IYR), (IJR), (IWM), (MDY), (SPY), (ANF), (COF), (USO); Finerman's Firm Owns (ROH) Calls