Home Depot (HD) popped 5%. The retailer said it will cut 7,000 jobs and exit its design showroom business to focus on its main home-improvement stores. - They're trying to get back to business, muses Jeff Macke.
State Street (STT) popped 5%. UBS said it sees a merger with Goldman Sachs possible for the struggling bank, as analysts believe the company is an attractive takeover target. - We told you there was capitulation in this stock back on January 20th, reminds Guy Adami.
ING Groep N.V. (ING) popped 21%. The largest Dutch financial-services company said its CEO is resigning and that they’re working on a restructuring plan which includes 7,000 job cuts. - Intersting, says Tim Seymour.
Athenahealth (ATHN) popped 4%. After the CEO appeared on Fast Money last week, the stock hit a 52-week high. Investors believe that the Senate’s additional $3 billion for health-care related IT spending could be a big boost for this firm. - That's good for the stock, exclaims Pete Najarian.
Danaher Corp (DHR) popped 9%. The maker of Craftsman tools reported fourth-quarter earnings that beat the Street’s estimates, despite posting restructuring charges and costs on the acquisition of Tektronix.
H.J. Heinz (HNZ) popped 3%. Barron’s wrote a favorable report on the company, saying it could become a takeover candidate, and the stock could rise this year due to its low valuation.
DROPS (stocks that slid lower)
Apollo Group (APOL) dropped 2%. Barron’s said education stocks may not be as good a play as they seem citing high valuations.
Rohm & Haas (ROH) dropped 13%. Dow Chemical no longer intends to close its pending $15.3 billion acquisition of the company on or before Tuesday, the deal’s deadline.
U.S. Bancorp (USB) dropped 11%. Goldman Sachs added the firm to the conviction sell list saying it is overvalued compared to its peers.
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Trader disclosure: On Jan. 26th, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour Owns (AAPL), (BAC), (EEM), (F), (FXI), (PBR); Seymour Owns A Short Position In (SNE); Seymour's Firm Owns (BIDU); Macke Owns (MS), (BAC), (SDS), (MCD); Adami Owns (AGU), (C), (BTU), (GS), (INTC), (MSFT), (NUE); Najarian Owns (EEM) Call Spread; Najarian Owns (FCX) & (FCX) Short Calls; Najarian Owns (GE) Put Spread; Najarian Owns (MSFT) & (MSFT) Short Calls; Najarian Owns (MS) & (MS) Short Calls/Put Spread; Najarian Owns (PALM) Calls